MGX mount gibson iron limited

S500 million insurance claim

  1. 2,408 Posts.
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    Hi Samsonrises,

    Thanks for your post regarding a claim for $500 million against the engineering mob responsible for the seawall.

    I have started a new thread so not to clog up the "shipping only" thread. Apologies to ldlewanderer

    Yes it definitely looks like MGX has not given up on the seawall claim. According to an old article (that I have pasted the link below) . . . it clearly states that the $86 million sum that MGX received from the insurer did not include a sum for loss of production (contrary to my earlier post, where going by memory, I thought that the $86 million so far received by MGX did include a sum for loss of production).

    The current claim for loss of production for the seawall collapse which occurred way back in 2014 is now been taken up directly with the engineering mob responsible for the seawall structure.

    Here is the link to the old article in which MGX states that $86 million did not include any amount for disruption to production . . .

    https://www.abc.net.au/news/2016-06-16/mt-gibson-iron-ore-koolan-island-insurance-payout/7516330?utm_campaign=abc_news_web&utm_content=link&utm_medium=content_shared&utm_source=abc_news_webn . . .

 
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