Mount Gibson Iron one step closer to new mine launch

Company News

by Jessica Ellerm

Mount Gibson Iron Limited (ASX:MGX) has announced the WA Minister for the Environment has given approval for the development of its Iron Hill iron ore mine.

Subject to final regulatory approvals, the company is aiming to commence production in the first half of 2017.

Iron Hill is located 3km south of Mount Gibson’s recently depleted Extension Hill open pit, and will be able to take advantage of existing mine facilities and logistics arrangements.

Full year ore sales for the company are expected to be in the order of 2.8 to 3.1 million tonnes in the 2016-2017 financial year, with contribution from Iron Hill included in this figure.

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