Mount Gibson is an established producer of high grade hematite ore.

In 2004, the Company’s 100% owned and operated Tallering Peak hematite mining operation was commissioned and in 2006 Tallering Peak achieved its targeted production rate of 3 million tonnes per annum.

The Company is also developing the Extension Hill DSO (Direct Shipping Ore) hematite project, located 260 kilometres east of Geraldton, and pending various regulatory and environmental approvals, anticipates commencing shipping from the 3 million tonne per annum hematite mining operations in the June 2009 quarter.

With the successful takeover of Aztec Resources, the Company has acquired the Koolan Island hematite mining operation, located in Yampi Sound off the Kimberley coast in the remote north-west of Western Australia. Koolan Island is forecast to produce up to 4 million tonnes per annum of hematite ore when it reaches its targeted production rate in 2008.

By 2010, Mount Gibson will be producing 10 million tonnes per annum of high grade hematite ore from its three Western Australian mines.

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