Australian iron ore miner Atlas Iron Limited has announced that it has achieved its targeted production rate of 14-15 million mt per year in August and it has recorded stronger margins thanks to the increased realized prices in the same month. The company stated that its production is four months ahead of schedule and expects to sustain this production level.
Atlas Iron's average realized sale price for August was A$61/mt CFR.
“Atlas is in an increasingly strong position with positive cash flow, improved costs and rising production,” commented Atlas managing director David Flanagan.