Ownership: Mount Gibson Iron Ore (100%) Australian Royalties Corporation (Royalty)
The hematite mine on Koolan Island is about 140km north of Derby in Yampi Sound in WA. It is known for its quality iron ore, which is low in impurities.
Mount Gibson took on the project from Aztec Resources in 2007 with the first shipment of hematite produced in June that year. Production only started at the main pit deposit in late 2011.
Once mined, the ore is loaded onto Panamax vessels via the mine’s own ship-loading facilities.
In March 2013, mining activity at the Koolan Island mine increased by 143 per cent, a direct result of the mine’s current ramp-up plan. Shipments of iron ore from the mine averaged 578,000 in its first quarter last year and the site is expected to increase its shipments this year.