NEWTON RES (01231) announced that on October 24, 2025, Mount Gibson Iron Limited (MGI), the parent company of Koolan Iron Ore Pty Limited (Koolan) and a company listed on the Australian Securities Exchange (ASX: MGX), issued an announcement regarding a significant rockfall incident at its hematite mine in the east side of the main pit of Koolan Island that occurred on the evening of October 16, 2025. Koolan is a primary supplier of hematite ore and, under a long-term hematite supply agreement with the group, is obligated to supply and sell hematite from the Koolan operation area according to a stipulated market pricing formula, with an annual quantity equal to 80% of Koolan's total available production for each contract year, until the permanent shutdown of the Koolan mining operations. According to MGI, due to the time and resources required to mitigate potential safety risks from instability in the affected area—particularly given the limited remaining mine life of the Koolan area (which was originally set to expire around September 2026 before the incident)—MGI concluded that it is not feasible to remedy the affected area and resume mining operations. As a result, MGI announced that mining activities at the Koolan operation area have been suspended, although processing operations for available ore stockpiles will continue to meet scheduled shipments in the near term, with the possibility of selling previously reserved lower-grade ore for mixed use. Following the incident, Koolan has also notified the group that it must delay some of the shipments originally scheduled for the fourth quarter of 2025. As of the date of this announcement, all significant aspects of the group’s operations continue to run normally. The group is currently in discussions with Koolan regarding its iron ore supply and is assessing the overall impact of the incident on its operations.