Australia-based iron ore miner Mount Gibson Iron has announced its financial results for the first six months ended December 31 of the financial year 2017-18.
In the given period, the company recorded a net profit of A$80 million, compared to a net profit of A$22.9 million recorded in the same period of the previous year. Sales revenue of Mount Gibson in the first six months amounted to A$90.2 million, down 3.8 percent compared to the corresponding period of the previous financial year.
In the first six months, Mount Gibson’s total iron ore production volume increased to 2.2 million wmt from 1.1 million wmt in the corresponding period of the previous year. Meanwhile, the company’s iron ore sales volume in the same period decreased by 5.5 percent year on year to 1.7 million mt.