05
Jan
16:58
Atlas cash earnings cut debt pile
Australia’s Atlas Iron has paid off AUD 54 million ($39m) in term debt after its cash earnings improved in the last quarter of 2016. It hopes to use the current strong pricing to fund investments that will allow it to continue to produce profitably in the coming years, Kallanish notes.
The miner ended 2016 with AUD 134m in cash on hand and, under the terms of debt taken on in a restructuring earlier in the year, it must pay back to lenders all cash over AU…
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Anonymous
Very good overview of the weekly steel market.
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