Australia-based iron ore miner Mount Gibson Iron Limited (Mount Gibson) has announced its operational results for the fourth quarter and the financial year 2016-17, ended June 30.
Accordingly, in the fourth quarter of the financial year 2016-17, Mount Gibson’s iron ore sales decreased by 23 percent quarter on quarter to 603,000 wmt, while the company’s iron ore sales revenues totaled A$28 million, down 35 percent from the previous quarter.
In the full financial year, the company’s iron ore sales amounted to 3.2 million wmt, at the lower end of its full year guidance, falling by 36 percent, and the revenues from these sales declined by 28 percent to A$173 million, both compared to the previous financial year.