atlas boss says mine isn't for sale

The boss of Atlas iron says any potential suitor is going to have to go hostile with a robust offer because the iron ore miner isn't for sale.

Speaking at a conference in London David Flanagan admitted he is knocked back several approaches from potential bidders and says he sees Atlas as a $30 stock.

The company recently announced its first fiscal full-year profit on the back of higher production and prices, and Mr Flanagan expects the growth to continue, predicting a 10-fold gain in the value of the $2.8 billion miner.

Rivals in the iron ore-rich area of the Pilbara such as Fortescue Metals Group Gindalbie Metals have garnered investments from Asian steel makers to help fund expansion, an approach Flanagan has so far resisted.

http://www.skynews.com.au/businessnews/article.aspx?id=661523&vId=2701766&cId=Business