Company News: Mount Gibson Iron
Updated: 23 Aug 2010
With Tallering Peak already operating at its targeted hematite production rate of 3 million tonnes per annum (Mtpa), the Koolan Island hematite mining operation ramping up from 3Mtpa towards its targeted production rate of 4Mtpa by December 2011 and development and construction of the Extension Hill hematite project scheduled for completion in the June 2011 quarter, Mount Gibson is well positioned to take advantage of strong Iron Ore prices. Annual production of 3Mtpa at Extension Hill will lift total Mount Gibson production to 9Mtpa in 2012.
Mount Gibson has firm commercial relationships with major Chinese steel industry customers, and with continued strong demand and prices the Company and its shareholders are ideally leveraged to benefit from further commodity price rises.
The Company is generating strong cashflow and has a stable and experienced management team focused on delivering returns to shareholders.
- West Perth
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