MGX in AFR, page-2

Also in the Sydney Morning Herald:

http://www.smh.com.au/business/forg...-more-than-breaking-even-20160712-gq4g31.html

Mt Gibson Iron is another miner making hay while the sun shines. UBS estimates the miner has a "break-even" price of $US44 per tonne.

Mt Gibson's break-even is in similar territory to Gina Rinehart's Roy Hill mine, which according to joint venture partner Marubeni, would require an iron ore price in the low $US40 per tonne range to break-even.

That is expected to fall to around $US35 per tonne when the mine is fully-ramped up to 55 million tonnes per year.

A Roy Hill spokesman said this week the mine could be exporting at a rate of 55 million tonnes per year within months.

"Roy Hill is ramping-up production smoothly and as previously advised we continue to work to achieve the target of an annualised nameplate capacity run rate of 55 million tonnes per annum by the end of 2016," the spokesman told The Australian Financial Review.

Break-even prices have become particularly important over the past two years, as the iron ore price collapse has forced BC Iron to stop operating its Nullagine joint venture, and Atlas Iron to undergo a major restructure.