Atlantic reports fire at Windimurra
UPDATE 1.30pm: The embattled company behind the Windimurra Vanadium Project has reported a fire at the processing plant, representing yet another blow in its efforts to ramp-up the operation to full production.
Atlantic this morning called a trading halt on its shares while it assesses the damage to the plant near Mt Magnet and reports back to the market.
The company said site management had enacted emergency response procedures when the fire broke out late yesterday afternoon, which had enabled it to be contained quickly.
"We are pleased to confirm that no personnel were injured," Atlantic said in a statement.
"An investigation of the incident is currently underway."
Atlantic has been repeatedly forced to tap its biggest shareholder and creditor, Anthoni Salim's Droxford International, for extra funding over the past year because of cost blowouts and production problems at the plant.
Owing $US335 million to bondholders and tens of millions to Droxford, Atlantic has struggled to make the crushing, milling and beneficiation circuit work, pushing back production deadlines and spending at least $20 million on re-engineering and repairs.
The plant was about 85 per cent complete when Atlantic took control in 2010.
The plant was built by Mineral Resources under a build, own and operate contract with the project's previous owners.
Atlantic has accused MinRes of a breach of contract, which MinRes denies.
Atlantic shares last changed hands for 17.5 cents.
