01
Sep
10:06
Atlas Iron cuts losses but future still uncertain
Australian miner Atlas Iron has reported a net loss of AUD 159 million ($119m) in the financial year ending June 2016, but that was a sharp improvement from the AUD 1.38 billion it lost a year earlier. Despite a steady reduction in costs, Atlas has not been able to move as fast as FMG and another fall in prices could put it back at risk, Kallanish notes.
Revenues at the firm were up 9% at AUD 786m, thanks to a 19% hike in export volumes to 14.5m wet me…
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Anonymous
Very good overview of the weekly steel market.
Anonymous