Rich
India now a importer of IO
China cost of production US120/t
China will no longer support unprofitable mills.
ATLAS has been extremely lucky in the sense that the 6 months of this financial year profit has kept pace with the big capex spend for FY14. If it can continue for the next 6 months its home run with FY15 capex dropping of by approx 200million so even if the IO price comes of in the next year or so atlas won't need to scramble for cash.
Better days ahead.
iron ore up slightly, page-5
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