Mount Gibson Strikes Iron Ore Prices In Line With Rio Price
May 28 2009 - 8:39PM
Dow Jones News
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
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