Mount Gibson cancels two iron ore contracts

摘要

Australian iron ore junior Mount GibsonIron has cancelled two of its three offtakeagreements for the Iron Hill deposit inWestern Australia, which together accountedfor around 50% of the first year’s output.Mount Gibson announced it hadterminated its agreement with SinogiantSteel Holdings Group on July 6, andalso with Xinyu Iron and Steel Group onJune 19, citing failures by both Chinesecompanies to comply with fundamentalcontract terms.