Mount Gibson Iron Updated Shine Iron Ore Project Mount Gibson Iron Limited (Mount Gibson) announced the following update on the planned development of the Companys Shine Iron Ore Project, located 375km northeast of Perth, in the Mid-West region of Western Australia. Shine represents a near term, low capital production opportunity that will further extend Mount Gibsonâ??s 16-year operational presence in the Mid-West region, facilitated by the Companyâ??s established export infrastructure and logistics arrangements. Mount Gibson has declared Proved and Probable Ore Reserves of 2.8 million dry metric tonnes grading 59.4% Fe, using a 55% Fe cut-off, within an initial Stage 1 pit development, for a mine life of two years. Mine life could potentially be extended a further two years by developing a Stage 2 pit subject to market conditions remaining supportive, based on Measured and Indicated Resources within the modelled pit shells. The Company is currently finalising commercial and permitting requirements to commence development and achieve targeted first ore sales in mid-2021. Subscribe SteelHome website to find more China Iron/Steel market information you're interested in.