Atlas Iron in halt on capital raising

Shares in Atlas Iron have been placed in a trading halt pending the release of details regarding a capital raising.

The miner's shares last traded at $1.70.

Atlas is currently mining at its Pardoo operation in the Pilbara and is advancing its $9.5 million Wodgina project, which will be the company's next mine with production slated for January next year.

The miner is also looking for a suitable joint venture partner for its $2.97 billion Ridley magnetite iron ore project in the Pilbara.