Mt Gibson cancels another contract

July 5, 2017

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Iron-ore miner Mount Gibson Iron has cancelled another offtake agreement over its Iron Hill mine, in Western Australia, this time with Sinogiant Steel Holdings Group.

The ASX-listed company said on Thursday that Sinogiant had failed to comply with a fundamental term under the offtake agreement, which was initially signed in November of last year, and would have accounted for around one-quarter of the first year’s planned production at the Iron Hill mine.

Category: General