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Australia

Koolan Island Mine

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Summary

Mine TypeStockpile
StatusActive
Commodities
  • Iron Ore
Mining Method
  • Truck & Shovel / Loader
Production Start... Lock
SnapshotThe Koolan Island Mine is Australia’s highest grade hematite Direct Shipping Ore (DSO) with direct port access to market.

The significant rockfall occurred at the Koolan Island operations on the eastern footwall (island-side) of the Main Pit on 16 October 2025. An exclusion zone was implemented in the Main Pit and all mining remains suspended.

Mount Gibson has determined that remediating the rockfall-affected area and resuming mining is not viable given the safety risks of potential future instability.

Mining will remain suspended and processing operations will continue for the time being given the availability of ore stockpiles to meet near-term scheduled shipments as well as the potential for additional sales from lower grade stocks previously retained for blending purposes.

Prior to the rockfall, production from Koolan Island was scheduled to conclude around September 2026.

Owners

SourceSource
CompanyInterestOwnership
Mount Gibson Iron Ltd. 100 % Indirect
The Koolan Island Mine is wholly owned by Mount Gibson Iron Ltd. through its subsidiary Koolan Iron Ore Pty Ltd.

Deposit type

  • Sandstone hosted

Summary:

The Mineral Resource estimate comprises the Main Deposit, Ore Stockpiles (including mined material and processed material) and one satellite deposit, Mangrove. The Ore Reserve estimate comprises the Main Deposit and Ore Stockpiles.

Koolan Island, Main Deposit
The mineralised zone is an overturned enriched haematitic sandstone horizon within the Yampi Sandstone Member unconformably overlying the Elgee Siltstone. It is between 12 and 30 metres thick, and dips 55 to 80° to the south.

The Main deposit mineralisation is approximately 2,000 m in length and is currently modelled to approximately 215 m in depth below mean sea level. Mineralisation continues and extends beyond this depth however further infill drilling is required to define this area with confidence. The resource is open at depth.

Koolan Island, Acacia East Deposit
The mineralised zone is an enriched haematitic sandstone horizon within the Yampi Sandstone member unconformably overlying the Elgee Siltstone. It is between 8 and 20 metres thick, and dips 45 to 60° to the south.

The Acacia East mineralisation is approximately 1,500m in length and is modelled to approximately 300 m in depth.

Koolan Island, Mangrove Deposit
The mineralised zone is an enriched haematitic sandstone horizon within the Yampi Sandstone Member unconformably overlying the Elgee Siltstone. It is between 12 and 30 metres thick. The mineralised unit is overturned and dips from 80° to the south in the west, twisting to right way up and 80° to the North in the east.

The Mangrove mineralisation is approximately 1,000m in length and is modelled to approximately 250 m in depth.

Reserves

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Mining Methods

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Heavy Mobile Equipment

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Comminution

Crushers and Mills

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Processing

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Water usage

Parameter20242023202220212020
Water use efficiency 0.04 kL/t0.02 kL/t0.03 kL/t0.02 kL/t0.03 kL/t
Groundwater 146.92 ML142.54 ML338.24 ML309.74 ML335.32 ML
Recycled water 120 ML120 ML180 ML180 ML192 ML

Commodity Production

CommodityUnits202520242023202220212020201920162015
Iron (hematite) kwmt  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe4311,2861,882
All production numbers are expressed as lump & fines.

Operational metrics

Metrics202520242023202220212020201920162015
Stripping ratio  ....  Subscribe  ....  Subscribe  ....  Subscribe
Ore tonnes mined  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe552 kwmt1,381 kwmt1,643 kwmt
Waste  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe10,185 kwmt3,322 kwmt14,428 kwmt
Total tonnes mined  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe
Tonnes milled  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe431 kwmt

Production Costs

CommodityUnits202520242023202220212020
Cash costs (sold) Iron (hematite) AUD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe

Operating Costs

Currency2022
Total operating costs ($/t mined) AUD  ....  Subscribe

Mine Financials

Units2025202420232022202120202019
Capital expenditures M AUD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe
Revenue M AUD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 53  
EBIT M AUD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 18.4  
EBITDA M AUD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 23.7  
Operating Cash Flow M AUD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe

Personnel

Mine Management

Job TitleNameProfileRef. Date
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Workforce

EmployeesContractorsTotal WorkforceYear
...... Subscription required ...... Subscription required ...... Subscription required 2025
...... Subscription required 2022

Aerial view:

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