Mount Gibson Iron's recent insurance settlement could act as a trigger for the iron ore producer's board to consider tapping its significant war chest to pay a dividend for the first time in three years, chief Jim Beyer says.
The Perth-based miner ended the June quarter with $447 million cash and has since received a $64 million insurance payout in relation to its Koolan Island mine, which flooded when the wall between the mine and the ocean failed in late 2014.
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Tess Ingram was a journalist with WAtoday. Before that, she was a reporter in The Australian Financial Review’s Perth bureau, covering business, economics and politics. Connect with Tess on Twitter.
