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Article: AUSTRALIA'S MOUNT GIBSON INKS SUPPLY DEAL WITH CHINESE STEEL CO.

Article from:
AsiaPulse News
Article date:
June 8, 2007
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PERTH, June 8 Asia Pulse - Mount Gibson Iron Ltd (ASX:MGX) has inked an agreement to supply iron ore to Chinese steel maker Rizhao Steel Holding Group from its Koolan Island and Tallering Peak operations in Western Australia (WA).

The iron ore producer said it would supply Rizhao with 2.4 million tonnes of the bulk commodity annually from its Koolan Island operation, offshore WA, and its mainstay Tallering Peak mine in the mid-west of the state.

Mount Gibson said the Koolan Island ore sales contract with Rizhao was for the life of the mine or 15 years, whichever is the lesser, while the Tallering Peak sales contract is for the life of mine.

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