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Australian Mining Shares News Mount Gibson (MGX)

Mount Gibson (ASX:MGX) is Australia’s fourth-largest iron ore miner, based in Western Australia. On 27 July, MGX announced an unaudited FY11 net profit of $239.5 million, which was up 80% on-year. However, iron ore production fell 26% in the same period, with lower costs the primary driver of the profit result. MGX shares slumped 4.3%


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