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Mt Gibson Iron Ltd to open a new mine in Western Australia

14 February 2017

On the tenth of February in Sydney representatives of the company Mt Gibson Iron Ltd has announced the expansion of production. The company finally got permission to develop the iron ore deposits. New mine opens in Western Australia, in the state Mid-West.

A new project of metallurgical Corporation received the name of Iron Hill. It is assumed that the development of new deposits needs to replace the recently depleted mine Extension Hill. The new mine will be located at a distance of three kilometers from the old field. Such proximity will play into the hands of the company. As for the new project will use the equipment, transport infrastructure and premises from Extension Hill. The closure of depleted mines will not entail staff reductions for the same reason.

Thus, approximately one hundred sixty employees will lose their jobs.

The company’s management, represented by Executive Director Jim Beyer, commented on the news. In Mt Gibson Iron Ltd are very satisfied with the resolution. «This is doubly good news, because to start a new project, we waited two years," said Jim beiber. In addition, beiber said: «the Permission that was received by our company, reflects the evidence of record. In addition, we always stressed the importance of developing useful deposits of Western Australia. Mid-West and Kimberley — the main regions where is concentrated the company’s attention». The Executive Director of Mt Gibson Iron Ltd said: «We are actively making plans for the future. And, currently, the development of project Iron Hill comprehensive profitable for the company. After all, it is attractive not only from the point of view of extraction of raw materials, the project is quite low-cost. This will not only support, but also give new impetus to our business. The new mine will be able to attract new shareholders and retain existing partners. The region will also receive its benefits. The launch of the project on extraction of iron ore will be able to maintain economic stability in the Mid-West. This effect is obtained thanks to the involvement of small businesses and local employment».

Experts are already making predictions for future mine iron ore. According to preliminary data, annually in the mine will produce about half a million tons of iron ore. The Deposit has reserves of fifty-eight percent of the ore. The total volume of mineral deposits is around nine million tons.

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