https://www.miningweekly.com

Mt Gibson downgrades outlook

10th November 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – Iron-ore miner Mount Gibson on Monday lowered its full-year sales guidance from between 6.6-million and 7-million tonnes to between 6-million and 6.4-million tonnes following a change in schedule at its Koolan Island operations, in the Kimberley region, in order to resume production in the Main pit.

Last month, operations in the Main pit were temporarily suspended as a precautionary measure to allow the company to monitor and repair an area of instability in the upper part of the southern pit wall.

The miner said that the schedule change followed some further minor instability over the weekend, during repair works undertaken in the immediate area of the slip, which partially reduced the effectiveness of the constructed seawall.

An assessment of the instability identified that additional remedial actions would be required to complete repairs and enable production to resume safely.

The iron-ore miner said that the planned remedial work could take some three months to complete, and could cost between A$5-million and A$10-million. The remedial action was not expected to impact the long-term mine-life of the Koolan Island project.

Mining activities remain suspended within the Main pit as a precautionary measure, while operations outside of the Main pit continue as normal.

Meanwhile, Mount Gibson told shareholders that the company would use the intervening period to undertake further optimisation and productivity improvement work at Koolan Island.

Edited by Creamer Media Reporter

Comments

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
Condra Cranes
Condra Cranes

ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

PGMs and green hydrogen make headlines
PGMs and green hydrogen make headlines
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.173 0.209s - 101pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: