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Insurance lifts Mount Gibson

MOUNT Gibson Iron generated an A$80 million net profit after tax from its Mid West operations for the December half, largely thanks to a windfall of $64.3 million from the proceeds of the Koolan Island business interruption insurance settlement, bringing the total payout to around $150 million.

Haydn Black
Insurance lifts Mount Gibson

The underlying business retreated a little, with the operations generating $15.7 million, down from $22.9 million in the December half of 2016-17, largely due to falling market demand for lower grades...

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