News Articles for Atlas Iron

You don't need to listen too closely to hear the pips squeaking in Western Australia's iron ore lemon after a week-long debate about the state's most important industry, which appears to be heading for a crisis that will hit companies and governments in equal measure.

Iron ore rivals BHP Billiton and Rio Tinto are united in their forecast more high-cost producers will leave the market, but have stopped short of predicting how Western Australia's higher-cost producers will fare over time.

Atlas Iron non-executive director David Hannon has resigned from the company's board with immediate effect to focus on family matters, with the company yet to announce a replacement.

Tensions between WA's major iron ore producers and their smaller competitors will be on show at a major conference this week.

Alcoa chairman Alan Cransberg has called on businesses to take responsibility for ending domestic violence through workplace initiatives, in an address to the Chamber of Minerals and Energy's Women in Resources awards today.

Listed companies from Western Australia are on the outer in the most recent quarterly reshuffle of the S&P Dow Jones ASX Indices, with high-profile absentees including Iluka Resources, Mineral Resources and Monadelphous Group.

Atlas Iron and BC Iron have both reported big losses following impairments and a race to cut costs as iron ore prices remain depressed.

The falling price of iron ore is putting substantial pressure on local miners, particularly small and mid-sized players, but the price of the bulk commodity is still well above levels achieved just more than a decade ago.

China-based Citic Group has flagged a $US1.4 billion to $US1.8 billion impairment at its Sino Iron magnetite project in the Pilbara as a result of the falling value of iron ore.

Atlas Iron is targeting further savings after revealing it sold iron ore at a loss during the December quarter, selling for an average price of $63 per tonne compared to an all-in cash cost of $66 a tonne.

Atlas Iron plans to write-down the value of its Pilbara assets by between $700 million and $900 million, after telling the market it is operating just at break-even before restructuring costs.

Iron ore explorer Sundance Resources has announced a package of cost-cutting measures, including a reduction to its board and staff, in an effort to reduce expenditure amid current market conditions.

Five Western Australian companies have sought to manage costs by cutting either salaries or board positions during the past month.

The tougher business climate has prompted some WA companies to cut executive salaries, but most have held the line and some have even awarded pay rises.

Atlas Iron has reduced the size of its board and cut pay for the remaining directors to help reduce costs amid weak iron ore prices.

Global audit, tax and advisory firm BDO has appointed Craig Hook to the Perth advisory consulting team as principal.

Our annual Transport and Logistics feature discusses the role of a maritime logistics officer, how a business caters to a skills shortage in the transport industry, the tier 3 rail lines, training for truck drivers in the Pilbara, and the recent completion of the Fremantle harbour rail upgrade.

For the best ringside seat at a bruising encounter don't buy a ticket to a boxing event, sign up for an iron ore forecasting conference which will, for the first time since prices crashed, put the big boys of the industry on the same podium as the small producers.

Psst … looking for a bargain? Here's a way to buy $1 for less than $1 by acquiring a fistful of shares in Mt Gibson Iron.

Tugboat operator Teekay Shipping and the world's fourth largest iron ore miner Fortescue Metals Group have condemned the decision of 56 tugboat workers to bring Port Hedland to a halt for four hours next Wednesday .

Money is moving out of iron ore but where it goes next is the more interesting question, because it seems that some investors are developing a taste for agriculture – a shift that might prove to be a case of leaving the frying pan to land in the fire.

Atlas Iron has shrugged off concerns about current market conditions and its thin margins, using its annual general meeting yesterday to remind shareholders of its development track record in an intensely competitive environment as proof it is a survivor committed to doing what it takes.

As the iron ore majors ramp up production, Fortescue Metals Group has an ace up its sleeve.

Atlas Iron has made significant cost savings in the September quarter and increased its production guidance, but lower prices have delivered only marginal profits.

Iron ore production shows no sign of slowing, but getting the ore on the water may be more problematic.

Atlas Iron non-executive director Kerry Sanderson has resigned from the board following her appointment as governor of Western Australia.

Investor interest in base metals stocks is rising, as iron ore process continue to slide south.

Asset sales, reporting season, Qantas, Atlas Iron, BC Iron and a feature on architects & planners are among the stories discussed by James Lush from Lush Digital Media with Mark Pownall and Dan

FEATURE: A stubbornly high dollar, falling prices and high operating costs are combining to exert real pressure on smaller players in the iron ore sector.

FEATURE: Industrial uncertainty and an urgent need for more infrastructure are putting the squeeze on iron ore exports through Port Hedland, while productivity increases and transshipment options are also being mulled over statewide.

Welshpool-based contractor MACA has raised its full-year net profit by 12 per cent to $55.4 million despite weather setbacks during the year, and increased revenue by 25.2 per cent to $595.4 million.

Iron ore exporter Atlas Iron has taken a $25 million hit to earnings as a result of restructuring and valuation changes to its Centaurus Metals investment.

Engineering and construction contractor Decmil Group has been awarded a $106 million extension on its work at the Manus Island offshore processing facility in Papua New Guinea.

Engineering and construction contractor Decmil Group says its evolution into civil construction projects has helped drive a 10 per cent lift in net profit, while flagging further earnings growth th

Iron ore prices may have softened significantly from about $US130 a tonne during the past year, but that has not stopped local miners ramping up exports.

The high-cost, low-price environment has put the squeeze on iron ore miners.

Driving up the Great Northern Hwy from Midland to Port Hedland, you can't help but marvel at the number of trucks on the road – and be concerned about what lies ahead for wheatbelt communities after the closure of the ‘tier 3' rail lines.

Perth-based iron ore miner Atlas Iron has beaten its full year profit guidance after shipping 3.1 million tonnes in the June quarter.

FEATURE: Mineral Resources has shown the lengths to which mining services companies are willing to go to secure new work in the current flat market.

The slump in the price of iron-ore to near 20-month lows has failed to halt the development of assets in Australia and overseas, despite ongoing cost cutting across the sector.