en.Wedoany.com Reported - On July 20, Australian iron ore producer MGX Resources Limited (formerly Mount Gibson Iron) released its operational report for the second quarter of 2026 (the fourth quarter of the 2025-2026 fiscal year). The report shows that due to a rockfall accident in the main pit, the company suspended mining activities in the quarter, instead processing and selling low-grade stockpile ore.

In October 2025, a rockfall occurred in the main pit of MGX's Koolan Island iron ore mine in Western Australia, prompting the company to suspend iron ore mining operations since then. In the second quarter of 2026, no newly mined iron ore was produced from the mine, with all production relying on the processing of low-grade stockpile ore, totaling 970,000 wet metric tons.

In terms of sales, MGX sold a total of 944,000 wet metric tons of low-grade iron ore in the second quarter, an increase of approximately 142.05% quarter-on-quarter and approximately 49.37% year-on-year. The average grade of this batch of ore was 42.3% Fe, lower than the 44.2% Fe in the previous quarter.

For the entire 2025-2026 fiscal year (July 1, 2025, to June 30, 2026), MGX's total iron ore mining volume was 680,000 wet metric tons, with total sales of 2.683 million wet metric tons. Among these, high-grade fines sales amounted to 869,000 wet metric tons, while low-grade iron ore sales totaled 1.813 million wet metric tons.

MGX stated that most of the key reclamation earthworks at the Koolan Island mine have been completed or are nearing completion, with the overall reclamation plan scheduled to be finished in the third quarter of 2026 (July 1 to September 30, 2026). The final four shipments of low-grade stockpile iron ore are planned for dispatch in July 2026, after which the mine will officially transition into a care and maintenance status.