Mount Gibson receives environmental approval for Iron Hill

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Image credit: www.mtgibsoniron.com.au

Mount Gibson Iron Limited has received environmental approval for the development of the Iron Hill iron ore mine in Western Australia’s Mid West region.

Image credit: www.mtgibsoniron.com.au
Image credit: www.mtgibsoniron.com.au

The company said it is now awaiting final regulatory approvals to begin developing the mine as soon as possible in order to commence production in the first half of 2017.

Mount Gibson’s CEO Jim Beyer said Iron Hill – which has total Indicated and Inferred Mineral Resources of 8.8 million tonnes grading 58% Fe – represents a low-capital cost production extension opportunity for the company’s Mid West business.

According to him, development capital costs are expected to total around $2-3 million, given Iron Hill’s location just 3km south of the recently depleted Extension Hill open pit, and utilisation of the Company’s existing mine facilities and logistics arrangements.

Adertisement

“We welcome this important environmental approval of the Iron Hill mine, which takes us one step closer to commencing mine development in early 2017,” Mr Beyer concluded.

Mount Gibson is expecting full year ore sales of 2.8 – 3.1 million tonnes in the 2016-17 financial year, comprising a mix of run-of-mine material from the Extension Hill and Iron Hill deposits, supplemented by opportunistic sales from existing low grade stockpiles.