Mount Gibson Iron of Australia released on 26th the following interim update on the Main Pit seawall at its Koolan Island mine in the Kimberley, Western Australia.|
As an upper part of the south side seawall has been unstable being damaged by the initial slump on 24th last month, the company suspended its operation as part of a precautionary measure and continued monitoring and the repair work but the section of the seawall again slumped on 26th following high tide and resulted in the Main Pit becoming flooded. There is no human suffering, and the operation has still been suspended.
Mount Gibson reported that at this stage, the company has been unable to provide a more detailed update on the anticipated impact on the damage including its sales guidance for the 2015 financial year. Its stock trading is now under suspension.