Australia-based mining and materials company Arrium Limited has announced that in the second quarter ended December 31 of the financial year 2015-16 it produced 1.75 million mt of iron ore, down 34 percent compared to the previous quarter. The company’s iron ore shipments in the given quarter amounted to 2.13 million mt, falling three percent quarter on quarter, due mainly to a decision to reduce the level of export lump sales.
Arrium’s total export sales for the six months ended December 31, 2015, amounted to 4.21 million mt. The company expects total export sales for the full financial year 2015-16 to be approximately nine million mt.
The company stated that, in response to the recent significant decline in iron ore prices, it is working on options to further reduce costs and cash expenditures, including reviewing its mine plans.