Atlas cutting loss-making production

ATLAS Iron will drop the production rate of its Mt Webber mine as it continues to lose money.

Atlas cutting loss-making production Atlas cutting loss-making production Atlas cutting loss-making production Atlas cutting loss-making production Atlas cutting loss-making production

Mining at Mt Webber

A year ago, the company decided to boost Mt Webber output from 7 to 9 million tonnes per annum, with the additional tonnage to be processed at the recommissioned Mt Dove plant.

The decision was made after the company put the development of the new Corunna Downs mine on hold.

Atlas said tonnes processed at Mt Dove had a higher C1 cash costs due to haulage and handling costs.

"In light of challenging market conditions, Atlas will suspend iron ore processing at Mt Dove and reduce its mining rate at Mt Webber to around 7Mtpa with effect from late July 2018," the company said today.
 
"These changes will not affect existing lithium DSO processing activities underway at Mt Dove.

"Atlas is constantly monitoring market conditions and will seek...

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