Atlas spends A$672m on new mine developments

Iron-ore miner Atlas Iron was gearing up to start construction on its Abydos mine later this month, while development of its Mount Dove project was earmarked for June. MD Ken Brinsden said in a conference call on Friday that with the Mount Dove...

Atlas Iron, QR National study new Pilbara rail link

Iron-ore miner Atlas Iron has entered into an agreement with freight carrier QR National to progress the feasibility of an independent railway in the Pilbara. The proposed railway would connect iron-ore deposits in the East and South East, to...

Atlas takes full ownership of Daltons iron-ore rights

Iron-ore miner Atlas Iron has entered into a binding heads of agreement to acquire the outstanding 25% interest in the iron-ore rights of the Daltons joint venture (JV) with Haoma Mining. The relevant iron-ore rights are located on the northern...

Atlas Iron sees strong demand, profit falls on write downs

Iron-ore miner Atlas Iron has reported a 79.8% drop in half-year profit, as a result of a A$69-million write down on asset values. Profit for the six months to December declined to A$6-million, compared with A$30.1-million recorded in the...

Merged Glencore, Xstrata would take aim at iron ore

An $80-billion marriage of commodities trader Glencore and miner Xstrata could lead to a new round of takeovers in iron ore, creating a goliath eager to muscle its way onto one of mining's richest and most closely guarded industries. Glencore and...

Atlas Iron cuts shipping target after cyclone

Iron-ore miner Atlas Iron on Wednesday revised its shipping guidance for the 2012 financial year following damage to the Utah shiploading facility caused by tropical cyclone Heidi. COO Jeremy Sinclair said in a conference call that Atlas Iron’s...

Atlas expands further into Pilbara

Australian iron-ore miner Atlas Iron has expanded its footprint in the Pilbara region by acquiring a 90% interest in the Corunna Downs direct shipping ore (DSO) project from fellow listed Gondwana Resources. The agreement was in the form of a...

Atlas inches closer to full takeover of FerrAus

Iron-ore miner Atlas Iron has secured a 94.95% shareholding in takeover target FerrAus, with the company saying on Wednesday that it would launch a compulsory acquisition of all the outstanding FerrAus shares at the close of the offer on October...

Atlas declares FerrAus offer unconditional

Iron-ore miner Atlas Iron has declared its takeover offer for FerrAus unconditional, after it gained a 60.48% interest in the company. Atlas would now proceed to nominate candidates to the FerrAus board, MD David Flanagan said.

FerrAus shareholder takes up Atlas offer

Iron-ore miner Atlas Iron’s takeover offer for fellow listed FerrAus has gained traction, with FerrAus’ major shareholder China Railway Materials accepting the offer. China Railway Materials has provided FerrAus with a letter indicating that...

Atlas posts maiden profit and dividend

Iron-ore miner Atlas Iron has declared a maiden profit after tax of A$169-million for the full year ended June, prompting the miner to declare a maiden dividend of 3c a share. This was compared with a loss after tax of A$41-million in the...

Pilbara miner Atlas Iron lifts production and exports

Iron-ore miner Atlas Iron posted a 7% quarter-on-quarter increase in production, and a 5% rise in iron-ore shipments in the June quarter, it reported on Thursday. The Pilbara miner, which has proposed an offmarket takeover of FerrAus, mined and...