Closing a mine doesn't stop the bills rolling in. You still have to service the debt, pay out all the contractors and make redundancy payments for all your sacked workers. In many cases it is considerably cheaper to keep mining (at a loss) than to shut down and restart later.
ARI mines haematite for export and magnetite to use in their steel mills. There would be no point in stopping magnetite production and buying in haematite from another producer (96% of Australian IO is haematite.)
Not held. No sentiment.
UBS cuts ARI to sell, page-10
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Last
2.4¢ |
Change
-0.003(11.1%) |
Mkt cap ! $14.84M | |||
| Open | High | Low | Value | Volume |
| 2.9¢ | 3.3¢ | 2.4¢ | $679.3K | 24.61M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 758622 | 2.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.5¢ | 620680 | 3 |
View Market Depth
| Last trade - 16.10pm 06/11/2024 (20 minute delay) ? |
| ARI (ASX) Chart |