智通财经网·2025-10-24 14:20Core Viewpoint - The significant rockfall incident at Koolan Island has led to the suspension of mining activities, impacting the iron ore supply to the company, which relies on Koolan as a major supplier [1][2]. Group 1: Incident Details - On October 16, 2025, a major rockfall occurred in the main pit area of Koolan Island, affecting operations [1]. - Koolan is a key supplier of iron ore, bound by a long-term supply agreement to provide 80% of its available total production to the company until the mine permanently ceases operations [1]. Group 2: Operational Impact - Due to safety concerns regarding the stability of the affected area, MGI has deemed it unfeasible to resume mining operations at Koolan [2]. - Mining activities at Koolan have been suspended, although processing of available ore stockpiles will continue to meet scheduled shipments [2]. - The company has notified the group of delays in shipments originally scheduled for the fourth quarter of 2025 [2]. Group 3: Future Considerations - The remaining mining life of the Koolan operation was limited, with plans to conclude by September 2026 prior to the incident [2]. - The company is currently in discussions with Koolan regarding iron ore supply and assessing the overall impact of the incident on its business [2].