Mount Gibson is an established producer of high-grade hematite ore, with cumulative group ore sales exceeding 50 million tonnes in April 2014, two months after the Company celebrated its tenth anniversary of ore sales.
In 2004, the Company’s 100% owned and operated Tallering Peak hematite mining operation was commissioned, and in 2006, achieved its targeted production rate of 3-million tonnes per annum. Operations were completed after ten years of operation in mid 2014.
With the successful takeover of Aztec Resources in 2006, the Company acquired the Koolan Island hematite mining operation, located in Yampi Sound off the Kimberley coast in the remote northwest of Western Australia. Large scale operations were suspended in late 2014 following a failure of the Main Pit seawall. Reconstruction of the seawall was approved in April 2017 with sales of high grade ore from Main Pit scheduled to recommence in the first quarter of 2019. With an average reserve grade of 65.5% Fe, Koolan Island will be the highest grade producer of DSO hematite in Australia when sales resume.
Extension Hill, and the adjacent Iron Hill deposit, are located in the Mt Gibson Range, 260km southeast of Geraldton. Mining concluded at Extension Hill in late 2016 after yielding over 15Mt of DSO hematite. Production switched to the nearby Iron Hill deposit in early 2017, and is scheduled to yield over 5Mt of DSO hematite by the time mining is concluded in late 2018.