Mt Gibson rising
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Tuesday, 11 January, 2005 - 21:00
A LARGE Chinese government business has acquired a shareholding in emerging iron ore producer Mt Gibson Iron, which has also announced steps to increase production next year.
China Railway Materials & Supplies Corporation’s acquisition of 5.9 per cent of Mt Gibson follows negotiations between the two companies over the supply of rail infrastructure and construction of an 85 kilometre rail link to a proposed mine in WA’s mid west.
Mt Gibson also announced it has raised $4.75 million from the conversion of share options, which will allow it to purchase 35 new rail wagons that will allow it to lift production at Tallering Peak.
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