Insight

Mineral Resources tops up reserves with Atlas acquisition

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Mineral Resources will acquire Atlas Iron in a US$215 million all-scrip deal. This is a 10% discount to our valuation of Atlas and implies a long term benchmark iron ore price of US$55/tonne (62% Fe fines, CFR China). The deal will enable Mineral Resources to achieve cost savings by amalgamating its existing Pilbara operations with Atlas Iron and provides a pipeline of projects to replace its depleting reserves. For Atlas, it provides a path for its projects to be developed - something Atlas would be unable to do independently because of its high debt.

Table of contents

Tables and charts

This report includes the following images and tables:

  • Mineral Resources and Atlas Iron Pilbara iron ore mines
  • Deal summary
  • Economic assumptions
  • China delivered cost curve (VIU adjusted)

What's included

This report contains:

  • Document

    Mineral Resources tops up reserves with Atlas acquisition

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