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Article: SHARES IN AUSTRALIA'S MOUNT GIBSON SOAR ON APPROVAL FOR WA OPS.
- Article from:
- AsiaPulse News
- Article date:
- August 3, 2007
CopyrightCOPYRIGHT 2007 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SYDNEY, Aug 3 Asia Pulse - Mount Gibson Iron Ltd (ASX:MGX) has received state government approval for one of its mining projects in Western Australia, sending its share price soaring.
At 1446 AEST, shares in the iron producer were 18 cents, or 13.7 per cent, up at $1.495 after a high of $1.515.
The financial viability of the venture, which the company calls the Mt Gibson Iron Ore and Infrastructure Project, was threatened by concerns it could put at risk certain endangered plant species.
"Mount Gibson Iron Ltd is pleased to announce that the Western Australian Minister for the Environment (David Templeman) has advised that the Mt Gibson Iron Ore ...