MGX Resources Ltd
Mount Gibson Iron Limited is an Australia-based company that is engaged in producing and exporting iron ore products.
The business
Mount Gibson Iron Limited is an Australia-based company that is engaged in producing and exporting iron ore products. The Company operates through two segments: Mid-West and Koolan Island. The Mid-West segment includes the mining, crushing, transportation and sale of iron ore from the Shine iron ore deposits and the port facilities at Geraldton Port. The Koolan Island segment includes the mining, crushing and sale of iron ore direct from the Koolan Island iron ore operation. The Shine Iron Ore Project (SIOP) is located approximately 85 kilometers (kms) north of the Company’s Extension Hill operation and approximately 375 kms northeast of Perth in the Mid-West region of Western Australia. Its Koolan Island operation is located in the Buccaneer Archipelago approximately 140 km north of Derby, in the Kimberley region of Western Australia. The Company’s subsidiaries include Mount Gibson Mining Limited, Geraldton Bulk Handling Pty Ltd, Gibson Minerals Ltd and Aztec Resources Limited.
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Latest news
Mt Gibson Iron Moves into Gold with Central Tanami Acquisition from Northern Star
Mount Gibson Iron (ASX: MGX) is looking to add gold production to its portfolio with an agreement signed to acquire a 50% interest in the Central Tanami Project Joint Venture (CTPJV) from Northern Star Resources (ASX: NST). The iron ore company will pay $50 million for the interest in the CTPJV and a number of […]
Have iron ore miners been oversold or should investors ‘steel’ for more ferrous pain?
The pundits were right, for once: the laws of market gravity were always going to catch up with the price of iron ore, which in a matter of weeks has tumbled more than 50% from its nosebleed territory of US$220 a tonne. Still, no-one quite predicted the extent of the rout which stems from the […]
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