Australian iron ore miner Atlas Iron has announced that it shipped 3.1 million wet metric tons of iron ore in the quarter ended on September 30, remaining unchanged compared to the previous quarter. In the given quarter, the company's iron ore production amounted to 3.7 million mt, up four percent quarter on quarter. Atlas Iron has revised its full year production guidance to 12.4-13 million mt, up from 12.2-12.8 million mt.
According to Atlas Iron's statement, the company reduced its cash cost in the September quarter to A$48.1/wmt from A$51/wmt in the June quarter this year.
"The cost reductions, together with continued strong results from operations, will ensure Atlas remains competitive and can take advantage of iron ore price increases as they emerge," said Atlas managing director Ken Brinsden.