http://www.miningweekly.com
R/€ = 16.82 Change: 0.00
R/$ = 14.32 Change: -0.01
Au 1199.53 $/oz Change: -8.69
Pt 829.00 $/oz Change: -7.99
 

Topic

Fortescue cuts Atlas Iron stake, to retain ‘substantial holding’

By: Esmarie Swanepoel     6th August 2018 Iron-ore major Fortescue Metals on Monday said that it would retain a “substantial shareholding” in takeover target Atlas Iron, despite reducing its interest from 19.9% to 11.37%. “Fortescue has considered its options with regard to the 19.9% shareholding in Atlas Iron and has decided to retain... 

Hancock bid free of conditions - Atlas

By: Esmarie Swanepoel     27th July 2018 Suitor Hancock Prospecting’s offer for iron-ore miner Atlas Iron has been declared unconditional. Atlas on Friday said that shareholders who now accepted the Hancock offer could expect a pay-out within seven days of their acceptance. 

Expert backs Hancock offer for Atlas

By: Esmarie Swanepoel     16th July 2018 An independent expert has found that Hancock Prospecting’s offer for ASX-listed Atlas Iron is both fair and reasonable, with Atlas on Monday urging shareholders to accept the offer. Non-executive chairperson Eugene Davis told shareholders that the offer from Hancock was an excellent opportunity... 

Costs outweigh price of Atlas Iron’s ore

By: Esmarie Swanepoel     12th July 2018 Takeover target Atlas Iron has faced another tough quarter during the three months to June, with all-in sustaining costs outweighing the price for its ore. Atlas on Thursday told shareholders that C1 cash costs for the period reached A$42/t, up from the A$41/t in the March quarter, while full... 

Atlas recommends Hancock offer; cuts back production

By: Esmarie Swanepoel     29th June 2018 Takeover target Atlas Iron on Friday recommended the offer from Hancock Prospecting to shareholders, saying the board had unanimously agreed to recommend the offer. The majority of the Atlas board earlier this month determined that the 4.2c a share offer from Hancock was superior to an earlier... 

Atlas attributed no value to NWI interest

By: Esmarie Swanepoel     28th June 2018 ASX-listed Atlas Iron on Thursday said that the company had attributed no value to its interest in the North West Infrastructure (NWI) joint venture, or its intention to develop export capacity at the port of Port Hedland. Atlas was responding to a query from shareholder Fortescue, which urged... 

MinRes given tight deadline to improve Atlas bid

By: Esmarie Swanepoel     19th June 2018 Iron-ore miner Atlas Iron has given suitor Mineral Resources (MinRes) three business days to match the takeover offer Hancock Prospecting put on the table earlier this week. Hancock on Monday revealed a 4.2c a share cash offer for Atlas, in which it already holds a 19.96% interest. 

Atlas does not have priority rights to new Hedland berths

By: Esmarie Swanepoel     14th June 2018 The share price of iron-ore miner Atlas Iron dropped by nearly 16% on Thursday after the Western Australian government informed the company that it did not have “priority right” to develop new export berths. Atlas told shareholders that the North West Infrastructure (NWI), of which the company... 

Hancock Prospecting discloses nearly 20% stake in Atlas Iron

By: Reuters     13th June 2018 Australian billionaire Gina Rinehart's Hancock Prospecting group of companies disclosed on Wednesday a 19.96% stake in Atlas Iron, heating up the race for the small iron-ore miner. Hancock Prospecting Pty Ltd holds a 14.97% stake in Atlas, while Hancock's unit Redstone Corporation will have a... 

MinRes amendments to Atlas offer opens door for ‘discussions’ with other parties

By: Esmarie Swanepoel     8th June 2018 Takeover target Atlas Iron on Friday confirmed that suitor Mineral Resources (MinRes) had amended certain clauses in the takeover offer, dropping the no-shop, no-talk and no due diligence clauses. Atlas told shareholders that the amendments to the offer allowed the company to explore... 

MinRes infrastructure project progresses

By: Esmarie Swanepoel     8th June 2018 ASX-listed Mineral Resources (MinRes) was expecting a State Agreement for its planned Pilbara infrastructure project before the end of the year. The company on Friday said that it was currently in negotiations with the Department of Jobs, Tourism, Science and Innovation on the terms of the State... 

Fortescue gains 19.9% stake in Atlas Iron

By: Esmarie Swanepoel     7th June 2018 Iron-ore major Fortescue Metals has taken a 19.9% shareholding in fellow-listed Atlas Iron, and has revealed that it would not support a proposed takeover of Atlas by Mineral Resources (MinRes). Fortescue on Thursday revealed that it had acquired a 15% shareholding in Atlas, at a price of 4c a... 

Atlas flags up to A$100m impairment on lower grades, higher costs

By: Esmarie Swanepoel     17th May 2018 Iron-ore miner Atlas Iron has warned of a A$75-million to A$100-million noncash impairment charge for 2018, as iron-ore grades declined and costs increased. Atlas on Thursday told shareholders that it remained on track to ship between nine-million and ten-million tonnes of iron-ore during the... 

Pilgangoora starts ore commissioning

By: Esmarie Swanepoel     15th May 2018 The Pilgangoora lithium project, in Western Australia, is set to deliver its first concentrate by the end of June, with ASX-listed Pilbara Minerals reporting that ore commissioning has started at the crushing facilities. In parallel with the start of load commissioning of the crusher,... 

Aussie mines cashing in as Chinese enviro crackdown shifts demand to high-grade iron-ore

By: Esmarie Swanepoel     4th May 2018 A renewed focus on environmental reforms and the accelerated restructure of its steel industry has resulted in a shift change in China’s iron-ore demand, with high-grade ores being given preferential treatment over their low-grade counterparts. The Australian Department of Industry, Innovation... 

Aussie mines cashing in as Chinese enviro crackdown shifts demand to high-grade iron-ore

By: Esmarie Swanepoel     4th May 2018 A renewed focus on environmental reforms and the accelerated restructure of its steel industry has resulted in a shift change in China’s iron-ore demand, with high-grade ores being given preferential treatment over their low-grade counterparts. The Australian Department of Industry, Innovation... 

Atlas' iron output continues to fall

By: Esmarie Swanepoel     17th April 2018 Iron-ore miner Atlas Iron has reported another fall in sales volumes during the three months to March, as wet weather and the closure of the Abydos mine impacted production. Atlas shipped 2-million tonnes of ore during the March quarter, down from the 2.2-million tonnes shipped in the December... 

Pilbara awaiting first DSO revenues

By: Esmarie Swanepoel     10th April 2018 Lithium developer Pilbara Minerals was readying for its first revenue from direct shipping ore (DSO) operations at the Pilgangoora lithium-tantalum project, in Western Australia. Pilbara told shareholders that the first revenue from a mine gate sales agreement with fellow-listed Atlas Iron was... 

Atlas Iron agrees to takeover by MinRes

By: Esmarie Swanepoel     9th April 2018 Iron ore miner Atlas Iron has struck a merger deal with mining infrastructure and production firm Mineral Resources (MinRes), as the companies seek to exploit synergies between their operations. The amalgamation of the companies iron-ore mining assets in the Pilbara would enable the combined... 

Atlas adds manganese to shipping mix as part of diversification strategy

By: Esmarie Swanepoel     12th March 2018 Iron-ore miner Atlas Iron has moved to affect its diversification strategy, finalising a manganese export agreement that will see the company export first product through the Utah Point within the next month. Some 100 000 t of manganese will be mined and crushed on a campaign basis by... 

Atlas to export Pilgangoora lithium DSO to Sinosteel

By: Simone Liedtke     2nd March 2018 ASX-listed Atlas Iron has signed an agreement with Sinosteel Australia for the export of lithium direct shipping ore (DSO) sourced from the Pilgangoora lithium project, which is owned by ASX-listed Pilbara Minerals. Atlas will sell up to 1.5-million tonnes of lithium DSO to Sinosteel over a... 

Atlas Iron adjusts product strategy to counter steep discounts

By: Mariaan Webb     27th February 2018 Mid-sized Australian iron-ore producer Atlas Iron has remained cashflow-positive in the financial half-year ended December 2017, despite high discounts for lower grade iron-ore as a result of China cleaning up its pollution act. The company, which mines iron-ore from operations in the northern... 

Paladin to return to ASX, most shares in hands of creditors

By: Mariaan Webb     2nd February 2018 Uranium miner Paladin Energy will apply for its securities to be reinstated to official quotation on the ASX, the Australia-based company said on Friday, announcing the completion of its restructuring and the appointment of two new directors. With the deed of company arrangement (DOCA) effected,... 

Atlas reduces debt, progresses diversification plans

By: Megan van Wyngaardt     29th January 2018 Iron-ore producer Atlas Iron has repaid a further A$20-million of its debt, as the ASX-listed company continues its strategy of repositioning the business by reducing debt, growing its iron-ore business through the Utah Point and diversifying beyond iron-ore. Atlas reported on Monday that the... 

Battery Minerals restructures board

By: Creamer Media Reporter      25th January 2018 Project developer Battery Minerals has restructured its board to a traditional governance structure, as it prepares to transition to a graphite production company. David Flanagan will move from executive chairperson to MD and cofounder Cherie Leeden will step down as an executive director and... 

Pilbara Minerals signs deals with GAMG, Atlas Iron for lithium

By: Megan van Wyngaardt     20th December 2017 Australian lithium developer Pilbara Minerals has entered into an offtake agreement with Global Advanced Metals (GAMG) for the sale of 100 000 lb of contained tantalum pentoxide-in-concentrates from its 100%-owned Pilgangoora lithium/tantalum project in Western Australia, over a two-year term.... 

Atlas Iron turns cash positive as turnaround bears fruit

By: Esmarie Swanepoel     20th October 2017 Iron-ore miner Atlas Iron on Friday announced that it had become net cash positive following the end of the September quarter with some A$93-million cash on hand and a further A$21-million in its reserve account. MD Cliff Lawrenson told shareholders that the transition to a net cash status... 

‘Sharp turnaround’ for Atlas Iron in FY17

By: Esmarie Swanepoel     29th August 2017 Iron-ore miner Atlas Iron has swung back into black during the full year ended June, with the company reporting after-tax net profit of A$48-million, compared with a net loss of A$159-million in 2016. Revenue for the full year rose by 11% to A$871-million, while net operating cash flows... 

European Metals bolsters Cinovec team to deliver DFS next year

By: Mariaan Webb     16th August 2017 ASX- and Aim-listed European Metals has appointed Craig Reimer to head the definitive feasibility study (DFS) of the Cinovec lithium/tin project in the Czech Republic. The appointment is aimed at strengthening the Cinovec team, as European Metals works towards delivering a DFS for the project in... 

Atlas defers 4Mt/y Corunna Downs project

By: Esmarie Swanepoel     21st June 2017 Iron-ore miner Atlas Iron has deferred the development of its Corunna Downs mine, with the miner instead aiming to increase production from the Mt Webber operation. Atlas in February approved the development of the Corunna Downs project, with capital costs estimated at between A$47-million and... 

Wet weather rains on Atlas parade

By: Esmarie Swanepoel     18th April 2017 Wet weather conditions have seen iron-ore miner Atlas Iron ship less tonnes during the three months to March, while C1 cash costs increased from A$34/t to A$36/t, compared with the previous corresponding period. The volume of ore shipped during the March quarter declined from four-million tonnes... 

Pilbara strikes lithium deal with Atlas Iron

By: Esmarie Swanepoel     29th March 2017 Lithium developer Pilbara Minerals has signed a farm-in and joint venture agreement with iron-ore miner Atlas Iron over the Mt Francisco lithium-tantalum project, near the Pilgangoora lithium project. Under the terms of the agreement, Pilbara will acquire an initial 51% interest in the lithium,... 

Atlas returns to profit in H1

By: Esmarie Swanepoel     23rd February 2017 Iron-ore miner Atlas Iron has swung back to a profit for the six months to December 31, on the back of increased underlying earnings before interest, taxes, depreciation and amortisation (Ebitda) and higher exports. Net profit for the interim period reached A$18.9-million, compared with a loss of... 

Atlas moves ahead with Corunna Downs development

By: Esmarie Swanepoel     16th February 2017 Iron-ore miner Atlas Iron has approved the development of its Corunna Downs project, in the Pilbara, with capital costs estimated at between A$47-million and A$53-million. A definitive feasibility study estimated that the project had the potential to deliver four-million tonnes a year of lumps... 

Atlas Iron in ‘stronger position’ – Lawrenson

By: Mariaan Webb     24th January 2017 Western Australian iron-ore miner Atlas Iron is in a “significantly stronger position” and on track to be in a net cash position by mid-2017, new MD and CEO Cliff Lawrenson said on Tuesday, reporting on the company’s December quarter performance. Atlas, which earlier this month repaid... 

Atlas aims to be cash positive by mid-2017 as it pays off more debt

By: Esmarie Swanepoel     9th January 2017 Iron-ore miner Atlas Iron has repaid A$54-million in debt, following a strong December quarter, reducing its US term loan debt to A$118-million. The miner said last week that it had completed the December quarter with some A$134-million cash on hand, as a result of the cash flow generated during... 

Corunna Downs DFS indicates large iron-ore deposit

By: Ilan Solomons     21st December 2016 Iron-ore miner Atlas Iron’s Corunna Downs project, in Western Australia, has the potential to deliver 4-million tons a year of lump and fines direct-shipping iron-ore (DSO) over an initial mine life of five to six years. This is according to the results of the project’s definitive feasibility... 

Atlas appoints new MD and CEO

By: Esmarie Swanepoel     15th December 2016 Iron-ore miner Atlas Iron has appointed Cliff Lawrenson as MD and CEO, effective from February 1. Lawrenson, who replaces David Flanagan, is currently MD of ASX-listed phosphate company Avenira, and was previously the CEO of iron-ore developer FerrAus. 

First
Prev
1
2 3 Next Last

Latest News

more

Latest Videos

more

About

Mining Weekly is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on MiningWeekly.com is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Free daily email newsletter Register Now
Close