Koolan Island economics improve on reserve increase

Iron-ore miner Mount Gibson has reported a more than 50% increase in the ore reserves at its Koolan Island project, off the coast of Western Australia. The ASX-listed company on Friday said that the main deposit ore reserve had increased to 21-million tonnes, grading 65.5% iron, extending the mine life to over five years, up from its previous three-and-a-half years.