Terrible outcome for 500+ employees (hundreds of families with mortgages and kids) . But decision to suspend production was unavoidable if Atlas is to have a chance of living to fight another day.
The company can't negotiate with any party regarding options (which can take months) if it bleeds $40m every quarter.
I think Atlas decision could mark the turning point (together with China's overt subsidy of Chinese IO producers) of the Rio bhp madness.
As Cliff's CEO says the path of self destruction will soon put Australia out of business.
- Forums
- ASX - By Stock
- Ann: Atlas Suspends Production in Response to Low Iron Ore Price
Terrible outcome for 500+ employees (hundreds of families with...
-
- There are more pages in this discussion • 36 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add AGO (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
SER
STRATEGIC ENERGY RESOURCES LIMITED
David DeTata, Managing Director
David DeTata
Managing Director
SPONSORED BY The Market Online