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Company background

Mount Gibson was established in Perth in 1996 and listed on the Australian Stock Exchange (ASX) in 2002.

The Company commenced production at its first mine, Tallering Peak in the Mid West region of WA, in late 2003 and shipped its first cargo in early 2004, becoming WA’s first independent iron ore exporter in almost a decade. Tallering Peak exported over 25Mt by the time ore reserves were depleted and the mine closed in late 2014. Site rehabilitation was completed in 2015.

In early 2007, Mount Gibson acquired the high-grade Koolan Island mine 140km north of the Kimberley town of Derby, through its takeover of Aztec Resources Ltd. Mount Gibson completed recommissioning of the former BHP mine and commenced shipments in April 2007. Mining was interrupted in late 2014 by a seawall failure which flooded the Main Pit, by which time Koolan Island had exported in excess of 22Mt of ore for Mount Gibson. Production and sales of high-grade hematite recommenced in April 2019.

Mount Gibson commissioned its third mine at Extension Hill, 260km east of the Mid West city of Geraldton, late 2011. The mine exported over 15Mt of iron ore by the time reserves at the Extension Hill deposit were depleted in late 2016, after which production commenced at the nearby Iron Hill deposit in early 2017. Iron Hill yielded over 5Mt of DSO iron ore by the time reserves final sales were completed in February 2019. Sales of stockpiled low grade material from Extension Hill are expected to be concluded in late 2019, after which the Mid West business will transition to final closure.