28
Oct
10:47
Mount Gibson sues engineer
Australian iron ore minor Mount Gibson, along with two subsidiaries, is suing engineering firm GHD for a seawall collapse which resulted in the flooding of the mine pit at Koolan Island in November last year. The miner is struggling with massive losses due to impairment charges and the collapse in iron ore prices, Kallanish notes.
Problems emerged with the seawall in October 2015 and a catastrophic collapse occurred on 25 October. Mount Gibson, Aztec R…
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Very good overview of the weekly steel market.
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