https://www.engineeringnews.co.za

Talks with creditors 'positive' - Atlas

14th April 2015

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

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.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Alco-Safe
Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 
Egoli Gas (Pty) Ltd
Egoli Gas (Pty) Ltd

As a reticulator, Egoli Gas provides natural gas to homes and businesses via underground pipes.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.05 0.866s - 140pq - 2rq
Subscribe Now