Extension Hill the key to Mt Gibson's growth

摘要

One company already well ahead of its competitors in the Mid West region of Western Australia is Mount Gibson Iron Limited (MGI). The company has been mining at its Tallering Peak hematite project, located 170 kilometres from Geraldton, since late 2003, and is now looking to expand production to 3 million tonnes per annum within the next six months from its current rate of 2 Mtpa. MGI is also exploring the viability of developing the Extension Hill hematite resource, which sits within the Mt Gibson ranges. If this development proceeds it could lift the company's hematite production to 5 Mtpa. Through MGI's 71.8 percent-owned subsidiary Asia Iron Holdings Limited ("AIHL"), the Australian mining house is evaluating an ambitious growth strategy to develop the Extension Hill magnetite resource to initially produce 5 Mtpa of magnetite concentrate per annum.