State Government approves Geraldton Port Train Unloader Upgrade

Mount Gibson Iron Limited is pleased to announce that the State Government has approved the metal used in vericle jaws of stone crusherupgrade of the train unloading facility (“upgrade”) at the Geraldton Port.

As a result of the upgrade, rail unloading capacity at the Geraldton Port will increase to 3000 tph, allowing Mount Gibson to increase production from it Mid West operations through the commencement of operations at Extension Hill.

Mount Gibson has agreed to fund the upgrade up to $20 million and it is expected to be completed in time for the first shipments from Extension Hill in the September 2011 quarter.

The upgraded train unloading facility will remain a common user facility with Mount Gibson receiving a rebate from the Geraldton Port Authority should other users wish to use the facility over the next 10 years, capped at 20 million tonnes of third party throughput.

Mount Gibson’s Managing Director Luke Tonkin said: “We are pleased to have finally agreed with the Geraldton Port Authority to upgrade the existing train unloading facility. It will allow increased throughput of the facility that will more closely match the shiploading capacity through the Geraldton Port’s dedicated iron ore shiploader at Berth 5. We acknowledge the support and cooperation of the Minister for Transport and Disability Services, the Honourable Simon O’Brien and the concurrence of State Treasury.”