Mount Gibson Iron confirms FY guidance

Company News

Mount Gibson Iron Limited (ASX:MGX) says it has delivered a strong operational performance in the September quarter in volatile market conditions. 
 
The iron ore miner has reported iron ore sales revenue of 1.9 million wet metric tonnes (mwmt) over the quarter.
 
Mount Gibson Iron says the result reflects solid performances at Koolan Island and Extension Hill and the closure of Tallering Peak. 
 
Over the year Mount Gibson Iron has confirmed it expects to deliver between 6.6 mwmt and 7 mwmt.
 
Despite steep falls in the iron ore price over the quarter CEO Jim Beyer has advised the company was partially buffered by the comparatively high grade and quality of its product mix.
 
Mount Gibson Iron reported a net profit of $96.35 million in the full 2014 financial year.