Zhi Tong Cai Jing·2025-10-24 14:18Core Viewpoint - Mount Gibson Iron Limited (MGI) announced a significant rockfall incident at its Koolan Island iron ore mine, leading to the suspension of mining activities in the affected area due to safety concerns and limited remaining mining life [1][2] Group 1: Incident Details - The rockfall occurred on October 16, 2025, in the main pit area of the Koolan Island operation [1] - Koolan is a major supplier of iron ore, bound by a long-term supply agreement with the group, which requires it to supply 80% of its available total production annually until the mine permanently ceases operations [1] Group 2: Operational Impact - MGI has deemed it unfeasible to remediate the affected area and resume mining operations due to the limited remaining mining life, which was originally set to conclude around September 2026 [2] - Mining activities at the Koolan operation have been suspended, although processing of available ore stockpiles will continue to meet upcoming shipment commitments [2] - The incident has led to delays in shipments originally scheduled for the fourth quarter of 2025, but all major business operations of the group remain normal [2] - The group is currently in discussions with Koolan regarding iron ore supply and assessing the overall impact of the incident on its business [2]