Australian iron ore miner Atlas Iron has announced that its Abydos mine has resumed production operations, with Wodgina pit operations to recommence next week. Once at full production, Atlas will produce approximately 9 million mt per year of ore from its Abydos and Wodgina mines.
The iron ore miner said that its Mt Webber mine is expected to recommence shipping during the September quarter, while it is targeting up to 6 million mt per year from the mine. With Mt Webber back in production, this would increase Atlas' annual production to a targeted 14-15 million mt per year by year end.
"Our production costs will be very competitive against other global supply. This will underpin our ability to generate strong cash flow which, in combination with the capital raising, will provide the company with a robust balance sheet that can withstand the sort of iron ore price volatility we have witnessed in recent times," said Atlas chairman David Flanagan.