The chairman of Mount Gibson Iron, Neil Hamilton, is stepping down at the mining company's annual general meeting next week after a dispute with its major shareholders.
Mount Gibson Iron says its Koolan Island iron ore operation will be back to full capacity today after ex-Tropical Cyclone Magda fizzled out over the weekend.
Mount Gibson Iron will restart construction of its Extension Hill iron ore project in the Mid West, with costs expected to reach $80 million, after executing life of mine ore sales agreements.
Another Chinese entity has made its way onto Mount Gibson Iron's share register, with the coal company buying Shougang Concord's interest in the miner for $176.3 million.
Mount Gibson Iron says it has resolved a dispute with one of its offtake customers, which failed to collect iron ore cargoes allocated to it under its long-term contract.
It was a mixed December quarter for iron ore miners Murchison Metals and Mount Gibson Iron, as demand for the commodity lowered one miner's shipments but raised the other.
Shares in Mount Gibson Iron have jumped 40 per cent on the government's approval for two Chinese companies to subscribe and underwrite a $162.5 million capital raising.
Mount Gibson Iron has reached an in principle agreement with the Dambimangari Native Title Group for exploration of the western region of Koolan Island, which has, to date, never been drilled.
Mount Gibson Iron Ltd has entered into several offtake deals with two Hong Kong listed companies, one a major shareholder, as it plans a $162 million capital raising that is fully underwritten.
Shares in Mount Gibson Iron Ore Ltd are still placed in a trading halt as the company continues discussions with customers and third parties regarding off-take agreements.
MINERAL and petroleum commodities dominate Western Australian exports, with iron ore alone accounting for almost one-third of the state's total exports.
Parochial investors who put their money into Western Australian stocks have just experienced their worst year in nearly a decade, judging by the results of WA Business News' annual total shareholder return survey.
Mt Gibson Iron Ltd has overcome environmental objections to the development of its Extension Hill iron ore mine in the Mid West but the decision by Environment Minister David Templeman has left the future of iron ore mining in the region unclear.
West Perth-based Mount Gibson Iron Ltd will join the Standard & Poor's/Australian Stock Exchange 200, following the removal of building products manufacturer Rinker Group Ltd on July 2.
A major board restructure at West Perth-based Mount Gibson Iron Ltd will see former Western Power boss Neil Hamilton take on the role of chairman, while former Aztec Resources Ltd managing director Peter Bilbe plans to stand down at the company AGM.
West Perth-based Mount Gibson Iron Ltd has announced a net profit after tax for the first six months of the financial year of $27.4 million, a 24 per cent increase on the previous corresponding period.
Mount Gibson Iron Ltd has urged shareholders in Aztec Resources Ltd to take up its takeover offer, flagging a compulsory acquisition of the shares should its holding increase to 90 per cent.
Mount Gibson Iron managing director Luke Tonkin, fresh from effectively completing the acquisition of Aztec Resources, has played down the immediate prospect of more takeovers in the junior iron ore sector.
Mount Gibson Iron Ltd and its subsidiary Mount Gibson Mining Ltd will receive $40 million in proceeds from the sale of their combined 73 per cent interest in Asia Iron Holdings Ltd immediately, following its release from escrow.
Hong Kong investor Shanghai Merchants Holdings has declared Mt Gibson Iron's hostile takeover offer for Aztec Resources a failure at current levels and has called on the two companies to negotiate an acceptable merger agreement.
Mount Gibson Iron Ltd has extended the closing date of its takeover offer for Aztec Resources Ltd to 5:00 pm WST on November 10, after announcing a five per cent increase of its share in the company.
Shares in squabbling iron ore companies Mt Gibson Iron Ltd and Aztec Resources Ltd jumped two per cent today on news of strategic stakes in both being taken by Hong Kong-based Shanghai Merchants Holdings Ltd.
West Perth-based Mount Gibson Iron Ltd has made its off-market takeover bid for Aztec Resources Ltd unconditional, saying it would shorten the time period for payment of the Offer consideration.
As it had previously indicated, the Takeovers Panel has declined an application from Aztec Resources Ltd to declare the takeover offer made by Mt Gibson Iron Ltd unacceptable.
West Perth-based iron ore company Mount Gibson Iron Ltd has exercised an option to acquire approximately 15 per cent of issued capital in Aztec Resources Ltd.
Mount Gibson Iron Ltd and its subsidiary Mount Gibson Mining Ltd have completed the sale of their combined 73 per cent interest in Asia Iron Holdings Ltd to minority shareholder Sinom Investments Ltd.
Mid-West iron ore miner Mount Gibson Iron Ltd has refuted claims it was planning a takeover of Aztec Resources Ltd or a possible merger with Gindalbie Metals Ltd, stating the company was keeping its options open.
MT Gibson Iron has big expectations for its future as it looks to grow from a small Mid West region iron ore producer to one with annual sales worth more than $1 billion.
Mount Gibson Iron Ltd 24-Aug-05 Sun Hung Kai Investment Services Ltd became a substantial shareholder with a relevant interest of 19,681,298 ordinary shares (5.3378%).
