MGX Mount Gibson Iron Limited

0.41

0.005 (1.23%)

Last Updated: 04:20:11

Delayed by 20 minutes

Share Name	Share Symbol	Market	Type
Mount Gibson Iron Limited	ASX:MGX	Australian Stock Exchange	Ordinary Share

	Price Change	% Change	Share Price	Bid Price	Offer Price	High Price	Low Price	Open Price	Shares Traded	Last Trade
	0.005	1.23%	0.41	0.41	0.415	0.4125	0.405	0.41	294,179	04:20:11

Mount Gibson Strikes Iron Ore Prices In Line With Rio Price

29/05/2009 2:39am

Dow Jones News

Mount Gibson Iron (ASX:MGX)
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Mount Gibson Iron Ltd. (MGX.AU) said Friday it has agreed contract iron ore prices in line with the settlement struck between Rio Tinto Ltd. (RTP) and Nippon Steel Corp. (5401.TO).

The Perth-based miner said it has notified existing long-term iron ore contract customers that lump prices will be US$1.12 per dry metric ton unit and fines at 97 U.S. cents per dry metric ton unit, effective April 1, 2009.

Mount Gibson's customers include China's Shougang Concord International and APAC Resources Ltd. (1104.HK), which launched a bail-out of the miner last year when other steelmaking customers reneged on long-term contracts amid falling demand and prices.

-By Alex Wilson, Dow Jones Newswires; 61-3-9292-2094; alex.wilson@dowjones.com