South32 Comes Back to Earth as Production Dips
Just a week after revealing a huge South American copper move valued at $2.8 billion, South32 revealed a 15% slide in hard coking coal production - mostly at its mines south of Sydney.
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Mount Gibson Iron Limited
Mount Gibson (ASX Code: MGX) is an established independent Australian iron ore producer that listed on Australian Stock Exchange (ASX) in 2002 and was readmitted to the Standard & Poor’s ASX-300 Index in March 2019.
The Company has exported over 70 million tonnes of iron ore from its operations in the Mid West and Kimberley regions of Western Australia since sales commenced in early 2004.
Following the resumption of sales from its flagship Koolan Island mine in WA’s Kimberley region, Mount Gibson is now the highest grade producer of direct-shipping (DSO) hematite in Australia.
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News
Ore Travails Claim Another Victim
The iron ore casualty list is mounting as Mount Gibson Iron now looks set to join Venture Minerals and GWR in being forced to shut iron ore mines because of the slide in prices over the past three months.
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Will The Resilience Of Iron Ore Prices Last?
With negative rhetoric surrounding Australia's trade relationship with China, what is the outlook for Australia's iron ore miners?
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Material Matters: Coal, Oil & Diamonds
A glance through the latest expert views and predictions about commodities. Coal; oil; alumina; iron ore; gold; and diamonds.
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Talk Of US$100 Iron Ore Puts Spotlight On Imminent Restart At Mt Gibson’s Koolan Mine
After repairing the seawall, and moving on Eric the crocodile, Mount Gibson is all set – weather permitting – to make its first sales at the end of March.
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Analyst Views
MGX – Citi rates the stock as Buy
Citi reduces the target to $0.60 from $0.65 and maintains a Buy/High Risk rating.
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MGX – Macquarie rates the stock as Outperform
Iron ore prices have pulled back from US$130/t to circa US$120/t but Macquarie reassures the fundamentals for the commodity remain robust. Moreover, Australian shipments remain strong at around/above their guidance ranges while Vale shipments appear to lag.
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