View Comments
Mr Gibson's Mid West operations.
The West Australian Mr Gibson's Mid West operations.

Shares in Mt Gibson Iron were higher after the Chinese-controlled iron ore miner posted record quarterly shipments and sales from its Mid West and Koolan Island operations.

December quarter shipments of 2.67 million tonnes were up 52 per cent on the previous quarter while half-year shipment to the end of December of 4.43 million tonnes were up 86 per cent on the previous half.

Mt Gibson said full-year sales was on track to meet guidance of 8-8.5mt.

Mount Gibson chief executive Jim Beyer said the company's continued operating improvement and record sales volumes demonstrated that its focus on business optimisation during 2012 was beginning to deliver substantial benefits.

"It is gratifying that our focus on business improvement, which we made our number one priority for 2012, is bearing fruit," he said.

"The upswing in prices since September has been encouraging, but recent price movements may be an indicator of future price volatility.

"Our approach has positioned our business to handle this price volatility, providing a buffer against potential price weakness while also providing flexibility to capitalise when conditions are stronger."

Mt Gibson shares were up 3.2 cents, or 3.9 per cent, to 85.2 cents at 9.50am.