Atlas Iron Limited (ASX:AGO)
has made a series of executive changes as part of its ongoing strategy to reduce costs.
Ken Brinsden has moved from executive director to non-executive director and Mark Hancock will resume the position of Chief Financial Officer.
The company says the changes will result in annual savings of about $1 million.
Atlas Iron managing director David Flanagan says the company is committed to identifying further cost savings to continue reducing its break-even price.
The company reported a $1.38 billion statutory net loss in the year to June 30.