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Takeover target Atlas warns of further impairment

STRUGGLING iron ore producer Atlas Iron has warned of a mid-year A$75-100 million non-cash impairment as it continues to take a hit on sales of its lower-grade iron ore, further strengthening Mineral Resources’ case for its all-scrip takeover offer. 

Haydn Black
Takeover target Atlas warns of further impairment

Atlas has been losing around $3 per tonne on every shovel load of iron ore it digs out of the Pilbara red dirt and ships to China for months..   It blames the increasing the premium for higher grade...

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