Latest Company Annoucement from MGX:-
SUBJECT: IRON ORE PRICE SETTLEMENT
Following the recent announcement by Rio Tinto Limited that Hamersley Iron had reached
agreement with China's Baosteel on the price for Hamersley lump and fine ores for the contract
year commencing 1 April 2008, Mount Gibson Iron Limited ("MGI") will be notifying existing long
term iron ore contract customers that lump and fine ore prices will increase to 201.69 US cents
per dry metric tonne unit and 144.66 US cents per dry metric tonne unit respectively, effective 1
April 2008.
Existing MGI long term iron ore supply contract prices are based on annually negotiated
Hamersley lump and fine ore prices.
Yours sincerely,
MOUNT GIBSON IRON LIMITED
iron ore price settlement
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