Mount Gibson Iron is an iron ore producer with mining and export operations in Western Australia. The company increased its total mineral resources in August to 94.9 million tonnes of iron ore at a grade of 61.2 percent iron, while ore reserves were reduced to 7.1 million tonnes at 58.4 percent iron. "The overall increase in our total Mineral Resources, notably in the Mid West1 with the addition of the Iron Hill deposit at Extension Hill and an increase in the Shine deposit, is a significant positive step that enhances the future optionality value within our existing iron ore asset portfolio," Mount Gibson CEO Jim Beyer said in the press release. At the same time, Mount Gibson reported it's 2015 full-year financial results. The company's full year sales revenue for 2015 was AU$325 million on iron ore sales or 5.8 million wet metric tonnes.