EDITOR, THE AUSTRALIAN
Wednesday, 02 January 2013 07:58
Mount Gibson Iron is set to step up its acquisition efforts this year as the group looks to challenge the perception that it offers little earnings growth, chief executive Jim Beyer said.
Mr Beyer, who was promoted from chief operating officer to the top post in May last year amid a wave of executive leadership changes at the miner, told The Australian that Mount Gibson was considering a range of acquisition opportunities, including a potential diversification into coking coal, following a volatile few years for the company.
Mount Gibson is a strong force in the Australian iron ore industry.
Established in Perth in 1996 and listed on the Australian Stock Exchange (ASX) in 2002, the company owns and operates the 3Mtpa Tallering Peak iron ore mine (pictured) in the Midwest region of Western Australia, around 175km east of the port city of Geraldton.
It also operated the 4Mtpa Koolan Island iron ore mine just off the Kimberley coast of Western Australia.
The company owns the Extension Hill DSO (direct shipping ore) Hematite Project in the Mt Gibson Range, 260km east south east of Geraldton, where construction and development commenced in the March 2010 quarter with first ore shipments due in the December 2011 quarter.
Mount Gibson, as the first new iron ore producer in the Midwest region, has taken full advantage of its strong financial and operational position to lead the consolidation of the junior ranks of the Australian iron ore sector, by completing a successful takeover of Aztec Resources in February 2007.
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