Atlas Iron to shut down mining operations
James ThomsonColumnist
Atlas Iron will progressively mothball its mining operations over the next few weeks before ceasing exports, after its cost-cutting program was unable to keep up with the plunging iron ore price.
The Western Australian miner went into a trading halt on Tuesday, the same day the iron ore price plunged to a 10-year low of $US46.70. The price has fallen 60 per cent in the past 12 months.
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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com
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