Energy

IBTimes reported Atlas Iron Ltd. (ASX:AGO) wants to divest its share of a uranium prospect to focus on its iron ore expansion plans.

IBTimes reported Atlas Iron Ltd. (ASX:AGO) wants to divest its share of a uranium prospect to focus on its iron ore expansion plans.

As quoted in the market news:

The company likewise cleared it is not in any way troubled to desire the divestment of the Lake Frome uranium project in South Australia.

“We’re not a distressed seller in any possible sales but we have discussions underway with potential parties who are predominantly end user or trading groups,” Mark Hancock, Atlas Iron executive director, told Dow Jones.

Mr Hancock likewise shrugged off the current scenario in the global iron industry could spell the doom of Australia’s iron ore miners and its sector.

Click here to read the full IBTimes report.

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