Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Despite reporting record production and sales for the year ended December, iron-ore miner Northern Iron on Tuesday warned shareholders that the company would require additional funding to continue as a going concern. Northern Iron reported that the continued decline of the iron-ore price had negatively affected the company’s working capital position, necessitating the need to secure additional debt or equity funding to support the business for the longer term, while the company continued to implement cost-cutting initiatives across its operations.
Despite reporting record production and sales for the year ended December, iron-ore miner Northern Iron on Tuesday warned shareholders that the company would require additional funding to continue as a going concern. Northern Iron reported that the continued decline of the iron-ore price had negatively affected the company’s working capital position, necessitating the need to secure additional debt or equity funding to support the business for the longer term, while the company continued to implement cost-cutting initiatives across its operations.
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