News Articles for MGX Resources

Mount Gibson to close Koolan Island mine

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The owners of one of Western Australia's oldest iron ore projects have decided to shut the mine down early, one week after a rockfall halted operations.

Rockfall triggers Mount Gibson trading halt

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Mount Gibson Iron entered a trading halt on Friday, following news of a rockfall overnight at its Koolan Island mine site in the Kimberley.

Iron ore miner pivots to gold

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Mount Gibson Iron wants to make the jump to gold as its flagship Kimberley iron ore asset approaches the end of its life.

Appointments April 25, 2025

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Our weekly appointments wrap includes Lanie Chopping, Rebecca Brown, Peter Woronzow, Richard Sellers, Prudence Griffin, Jessie Liu-Ernsting, Shannon Robinson, Rhys Waldon, Mark Pivac, Brett Smith, Michael Skead, Jackson Allen and Jackie Donald.

Smith to assume role as Mount Gibson chair

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Mount Gibson announced on Thursday that its non-executive chair Lee Seng Hui will step down from the role.

Island mine could become tourism hub

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Traditional owners have put forward their plan to turn Koolan Island in the Kimberley into a cultural tourism hub once iron ore mining ceases.

Costs, outlook weigh on iron ore miners

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Higher costs have put a dampener on strong exports from Fortescue's Pilbara iron ore mines over the past quarter.

$20bn rush into iron ore miners

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A Chinese stimulus package announced yesterday afternoon designed to spark property investment has resulted in a $21.4-billion boost to WA’s iron ore players on the stock exchange.Mineral

RAAF scours north-west for fuel storage

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The Royal Australian Air Force is assessing areas across the north-west for additional sites to store fuel as part of plans to expand military presence in the region

Mount Gibson fills coffers, reveals buy-back

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Koolan Island's high-grade ores have tripled Mount Gibson Iron's cash reserves to $442 million in the past year amid a volatile price climate.

Insurance injection for Mt Gibson after fire

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Mount Gibson Iron has finalised a $27 million business interruption insurance payout arising from a 2022 fire at its Koolan Island processing plan.

Mount Gibson targets life beyond Koolan

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Koolan Island iron ore mine is a celebrated part of WA's mining history but plans for its rehabilitation and the island's future are well under way.

Iron ore jitters fray nerves

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Doubts over the direction of the iron ore price have fostered talk of lean times ahead for the industry.

Board Moves August 23, 2023

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Our board moves wrap includes Andre Douchane, Russell Barwick, Evian Delfabbro, Jack Rosagro, and Deborah Ho.

Fenix finalises Mid West asset acquisition

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Iron ore producer Fenix Resources has finalised its acquisition of Mount Gibson Iron's Mid West iron ore, port and rail assets.

Fenix spends $25m on Mid West assets

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Fenix Resources is set to buy Mount Gibson Iron's Shine iron ore mine on care and maintenance and its rail and port assets in the Mid West under a $25 million deal.

At Close of Business 13 October 2022

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Managing editor Sean Cowan talks about the AFL's latest TV rights deal and what it means for the competition's growth.

Mount Gibson seawall collapse claim now $500m

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Mount Gibson Iron is upping its damages claim against engineering firm GHD to almost half-a-billion dollars, eight years after a seawall collapse forced the closure of its Koolan iron ore mine.

Fire repairs delay Mount Gibson plans

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Mount Gibson Iron has disclosed that repairs to its Koolan Island processing plant will take at least four months, affecting its planned increase in iron ore sales.

Fire adds to Koolan Island headwinds

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Mount Gibson Iron is assessing the damage caused by a fire at its Koolan Island operation last week and forewarned investors of a $150 million write-down on the asset due to waning commodity prices.

Smaller miners face squeeze on costs

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Analysts argue iron ore prices won't have to fall far to inflict pain.

Mount Gibson confirms closure of Shine

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Mount Gibson Iron is suspending operations at its Shine site due to falling iron ore prices and high shipping costs, making it the fourth miner to close in recent weeks.

Mount Gibson mine in doubt

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Mount Gibson Iron's Shine project in the Mid West could become the fourth iron ore mine to halt operations this month after the company called a trading halt.

Pearl Gull Iron launches IPO

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Three Perth dealmakers are behind an early-stage iron ore explorer that is seeking to list on the ASX despite ongoing disputes with its neighbour on Cockatoo Island.

Buoyant mood at Diggers

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The mining industry is turning green, but ‘old' sectors like gold and iron ore are still attracting keen support.

NRW’s Primero wins $155m in contracts

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Listed contractor NRW Holdings has secured new work through its Primero business, including on two iron ore projects in Western Australia.

Tough hurdles for new iron miners

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The surge in iron ore prices over the past three years has delivered some spectacular returns for investors.Fortescue Metals Group – a pure-play iron ore stock – and Mineral Resource

Corporations help raise $6.7m for fire relief

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Some of Australia's largest corporations are digging deep to raise funds for those affected by the devastating fire in Perth's north-east.

Resources sector digs deep for fire relief

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As firefighters attempt to contain an out-of-control blaze in Perth's east, the state's peak resources body has established an initiative to raise much-needed funds.

WA miners share in price gains

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Shares in WA's gold and iron ore miners have shot up as the value of both commodities rose to impressive highs overnight.

Forrest wins big as iron ore soars

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Andrew Forrest is $2.7 billion richer after the iron ore price rose to a seven-year high, while Chris Ellison's stake in Mineral Resources has grown by $53.4 million.

Life extension on the cards for Koolan Island mine

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Mount Gibson Mining is investigating options to extend the life of WA's oldest iron ore mine.

Mount Gibson eyes start date for Shine

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Mount Gibson Iron is targeting first ore sales from its previously deferred Shine operations in Western Australia by mid-next year.

Iron ore miners seek to up grade as China chases quality

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The rush to gold by investors in the aftermath of the GFC was hardly unexpected.What may have surprised analysts at the time, however, was China’s embrace of iron ore, which ultimatel

Resources sector donates $6.6m for COVID-19 support

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In an initiative led by the Chamber of Minerals and Energy of WA, the Western Australian resources sector has pledged $6.6 million to Royal Flying Doctor Service Western Operations, Foodbank WA and Lifeline WA.

Board Moves December 9-13, 2019

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Our board moves wrap includes Andrew Barclay, Matt Hardisty, Melissa Chapman, Matthew Foy, Tim Markwell, Michael Atkins, Debra Bakker, James Wallbank, Simone Suen, Greg Miles, Janet Wicks, RuCai Ding, ShaoFeng Li, Peter Watson, Peter Main, Daniel Harris, David Riekie, and John Hodder.

Appointments October 24, 2019

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Our weekly appointments wrap includes Lydia Litton, William Bradford, Nicholas van Hattem, Chris Torrey, Gail Beck, Daniel Brown, Merle Carter, Linda Dridi, Jonathan Ford, Corina Martin, Vicki O'Donnell...

WA directors in multi-million dollar share trades

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Directors of several Perth-based ASX-listed companies have undertaken substantial share transactions in the past fortnight, with Peter Bradford, Peter Cook and John Welborn among those taking advantage of the trading window after the release of their annual results.

Iron ore juniors back in game

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The price rebound this year has sparked renewed mining interest in at least eight previously mothballed projects.

Mt Gibson resumes shipments

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Mount Gibson Iron is set to become Australia's highest-grade exporter of direct-shipping hematite iron ore when its first shipment leaves from Koolan Island later today.