According to Mining News Pro - The company has completed its preproduction capital expenditure over the last few months, including installation of site offices, construction of the run-of-mine (ROM) pad and completion of upgrades to the on-site haulage roads.

Venture also announced it is close to finalising and negotiating the road access agreement for a portion of a privately-held road and nominating a preferred road haulage tenderer.

Its preparations for the first ore shipment are well advanced with port access agreements being negotiated and positive ongoing discussions with shipping brokers regarding availability of ships for the Riley product.

Venture managing director Andrew Radonjic said the company continued to work on additional strategies identified to further reduce operating costs on the project before the first ore shipment.

“These cost optimisation programs will focus on increased efficiencies from detailed mine scheduling and enhancing the logistics chain for transporting the iron ore including an application to go to 24-hour trucking,” Radonjic said.

“The company looks forward to keeping the market informed on any further developments on Riley iron ore mine.”