Talks with creditors 'positive' - Atlas
PERTH (miningweekly.com) – Embattled iron-ore miner Atlas Iron on Tuesday told shareholders that discussions with the company’s creditors were continuing, and were ‘positive’.
Atlas at the end of last week announced that it would suspend mining across all of its Pilbara operations, as iron-ore prices continued to tumble. Mining and crushing from the Mt Webber mine would be suspended this week, while activities at the Abydos project would cease within the next two weeks, followed by operations at the Wodgina mine, in late April.
Atlas said on Tuesday that the company and its advisers were continuing the whole-of-company review, which had led to the decision to suspend operations, taking into account the consequences of the decision to stop production.
The company was also continuing discussions with creditors and relevant stakeholders, and was ensuring that there were no defaults to its secured debt facilities.
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