Iron ore mine at Koolan Island to reopen after $100 million seawall rebuild

Written on the 28 April 2017

Miner Mount Gibson Iron has announced it will spend nearly $100 million rebuilding a collapsed seawall in order to restart production at the remote Koolan Island mine.

The news has been welcomed in the West Kimberley, where hundreds of jobs have been lost in recent years due to a string of mine closures.

Mount Gibson chief executive Jim Beyer said the company had decided the cost of rebuilding the wall was worthwhile.

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Market Report with Paul Wareing - March 15, 2017

The ASX200 had a positive week and ended 0.8% higher. The Aussie dollar drifted lower down 0.7%, oil was hit hard on higher US stockpiles and production, gold drifted lower on the much anticipated US interest rate move and iron ore continued south. As expected the Reserve Bank of Australia kept interest rates on hold and maintained a neutral sta...

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