Expanding iron ore miner Atlas Iron says it will issue more than 22 million additional securities.

Atlas Iron Ltd said the issue of 22,006,093 million ordinary, fully-paid shares would go ahead in accordance with its takeover bid for fellow iron ore miner FerrAus Ltd.

Last week, Atlas said its net profit for the year to June 30 was $169 million, compared to a $40.8 million net loss for the previous financial year when the Perth-based company was ramping up production.