Northern Iron posts record quarter

Perth-based Northern Iron has maintained sustainable improvements in production for the September quarter, despite the failure of a section of pit wall at its Bjørnevatn iron ore deposit at the Sydvaranger Iron Project in Norway.

Northern Iron has posted an 18 per cent increase in concentrate production on the previous quarter.

A new monthly production record of 201,000 tonnes was set in July, helping the quarter to the end of September produce a total of 515,000t.

Mine production was 4.7 million tonnes mined, up 6 per cent on the previous quarter and in line with the plan for the period.

The Sydvaranger project inside the Arctic Circle near Kirkenes, Norway, represents Europe's first new iron ore mining operation in the 21st century.

Northern shares were trading at 28.5 cents, up 5.5 per cent, at 7:30am WST.