atlas iron from website
URGENT UPDATE: Gina Rinehart’s Atlas Iron has reported a net profit of $260 million for the financial year 2025, a staggering 41% decline from the previous year, largely due to significant production interruptions caused by Cyclone Zelia.
The cyclone, which struck the Pilbara region in February, heavily disrupted operations, affecting key production sites including the Mt Webber, Sanjiv Ridge, and Miralga mines. The average realized price of iron ore produced by Atlas fell by 18% to $85 USD per dry metric tonne, reflecting a challenging market environment.
Despite these setbacks, Atlas managed to maintain a maximum shipment allocation of 10 million tonnes through the Utah Point facility, showcasing resilience in operations. Officials at Atlas noted that the cyclone caused severe flooding, particularly affecting the Sanjiv Ridge haul road, which was critical for transporting materials.
In addition to the profit report, Atlas Iron paid $136 million in corporate taxes and $79 million in Western Australia royalty payments for the fiscal year. Construction has also commenced on the McPhee Creek project, which received all necessary environmental approvals in the second quarter of FY25. As of 30 June 2025, progress on establishing the mine and constructing essential infrastructure, including an accommodation village, is well underway.
“The upgrade of the Marble Bar Road, linking the McPhee Creek project to the Roy Hill mine, is also on track, with completion expected in the upcoming financial year,” Atlas stated. Furthermore, a strategic plan focusing on reducing risks associated with the Ridley magnetite project is now in place.
In a significant corporate move, Rinehart announced a merger of Roy Hill and Atlas into a single entity called Hancock Iron Ore. She expressed gratitude toward the dedicated Atlas team for their continued hard work and loyalty. “Since coming under Hancock’s ownership in 2018, Atlas has accelerated its growth and profitability,” Rinehart stated, underscoring the operational efficiencies achieved.
As National Mining and Related Industries Day approaches on November 22, Rinehart encouraged the mining community to take pride in the sector’s contributions to the economy and society.
This latest announcement from Atlas Iron highlights the ongoing challenges within the mining industry, particularly in the face of natural disasters, yet it also showcases the potential for recovery and strategic growth moving forward. As the situation develops, stakeholders will be closely monitoring the impact of these operational changes and market conditions.
