$1.4B loss for Atlas

ATLAS Iron has reported a massive $1.4 billion loss for the 2015 financial year but managing director David Flanagan remains confident on the company’s future.

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Atlas Iron has wrapped up a tough 2015 financial year with a $1.4 billion loss.

The company reported an $834 million impairment in the first half of the year and had already warned the market of further write-downs due to the dramatic plunge in the iron ore price.