Australia’s McAleese Ltd , a mining and minerals haulage group, has asked that its shares be suspended as it weighs the impact of lost work from Atlas Iron Ltd which plans to progressively suspend mining due to a plunge in iron ore prices. Prices of the steel-making material <.IO62-CNI=SI> are down 60 percent over the past year as larger producers flood the sea-traded market into China. McAleese had expected to generate around 40 percent of projected fiscal 2015 earnings before interest, tax, depreciation and amortisation from Atlas. “In light of the company’s material exposure to Atlas, a voluntary suspension is considered appropriate to ensure the market in MCS securities is orderly and trading on a fully informed basis, it said in a statement to the Australian Securities Exchange. It added that it was maintaining close contact with Atlas. Shares in McAleese closed at A$0.16 on Friday. Another company working for Atlas, MACA Ltd, said a contract at one of Atlas’s mines generated between A$4 million and A$5 million ($3 million-$3.8 million) per month and the loss of that work would affect its earning outlook this year. But MACA, which conducts ore crushing work, said it continues to expect net profit after tax for the 2015 financial year will exceed the A$55.4 million reported in fiscal 2014. Stevedore group Qube Holdings Ltd said it would work with Atlas but that the halt to mining would not materially dent its underlying earnings this year, given Atlas represents no more than 5 percent of revenue. Atlas, which was scheduled to ship the majority of its projected 13 million tonnes of iron ore this year to China, said exports will cease shortly after mining is halted