Australian iron ore miner Atlas Iron Limited has announced its financial results for the fiscal year 2012-13 ended June 30.
According to the results, in the given period Atlas recorded a net loss of A$245 million, more than double compared to the previous financial year. Sales revenues of Atlas in the full financial year increased by 13 percent year on year to A$695 million, reflecting increasing production, strengthening iron ore prices and the weaker Australian dollar. The company also stated that the increase in sales was driven by the opening of Mt Dove and increasing production at Wodgina mine.
Atlas Iron stated that its iron ore shipments in the given period reached 7.4 million mt, up 32 percent year on year. For the financial year 2013-14, the company expects iron ore shipments of 9.8-10.3 million mt.