Mt Gibson ups sales guidance
PERTH (miningweekly.com) – Iron-ore miner Mount Gibson Iron on Monday increased its sales guidance for the 2015 financial year by 200 000 t, to between 5-million and 5.4-million tonnes, after securing additional rail haulage from its Extension Hill mine, in the Mid West.
The Extension Hill mine’s nominal yearly export capacity increased by 17%, to 3.5-million tonnes, with the addition of an extra train path from the Perenjori rail siding. The extra haulage started on February 15.
Mount Gibson noted that the increase in export capacity from Extension Hill would also enable further incremental improvements in unit costs, complementing the company’s ongoing cost reduction and efficiency improvement programme.
The increased haulage comes as good news, following the miner’s January announcement of a noncash impairment of between A$850-million and A$950-million in its interim results for the period ended December. The impairment comes in light of the declining market conditions, as well as recent development at Mount Gibson’s Koolan Island project, which was idled in December last year.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation

















