Atlas to sell Yerecoin magnetite project

Australian iron ore miner Atlas Iron will sell its Yerecoin magnetite project in Western Australia to US-based iron ore miner Cliffs Natural Resources for a cash consideration of A$18 million, according to international media sources.
 
Cliffs will also pay royalties to Atlas for any magnetite mined from the project in question.
 
As previously reported by SteelOrbis, Atlas sold its Balla Balla magnetite project, also located in Western Australia, to Australian company Forge Resources for A$40 million earlier this month.