Mount Gibson has increased its full-year iron ore sales guidance after securing an additional rail haulage contract capacity from its Extension Hill iron ore mine in Western Australia.
The contract will increase Extension Hill’s nominal annual export capacity by around 17 per cent to 3.5 million tonnes, with the addition of an extra train path from the Perenjori rail siding beginning yesterday.
As a result, Mount Gibson expects to export an additional 0.2 million tonnes of ore from Extension Hill in the 2015 financial year.
The company increased its ore sales guidance to 5 million tonnes to 5.4 million tonnes for fiscal 2015.
The news will be welcome for Mount Gibson, which last month flagged a first-half impairment of up to $950m due to a weakening iron ore price, and in December, announced it would mothball its Koolan Island mine.
Source: The Australian
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