Atlas Iron Extends Suspension of Mining

Australian Mining reported that Atlas Iron (ASX:AGO) may extend its trading halt for a further three weeks as it continues its operational and financial review.

As quoted in the market news,

The company said it will suspend mining over the month of April, with exports to cease a short time later.

The move comes in light of the iron ore price dive which has seen the commodity lose 30 per cent of its value since the start of the year to trade at 10-year lows.

Atlas Iron’s break-even price is $US60 a tonne, well above the current spot price of $US47 a tonne.

Click here for the full Australian Mining report