Australian iron ore miner Atlas Iron Limited has announced its financial results for the first six months ended on December 31 of the financial year 2012-13.
According to the financial results, in the given period Atlas recorded a net loss of A$256 million, compared to a net profit of A$6.1 million in the corresponding period of the previous financial year. Sales revenues of Atlas in the first six months decreased by 15.6 percent year on year to A$288.3 million, due to weaker iron ore prices.
Atlas Iron stated that its iron ore shipments in the given period reached 3.34 million mt, up 17.2 percent, while its iron ore output in the same period amounted to 3.55 million mt, rising by 28.6 percent, both year on year. Atlas has started production and exports from Mt Dove iron ore mine in Pilbara, Western Australia. Atlas is now producing at a rate of 8 million mt per year and is on track to increase production to 10 million mt per year by the end of June 2013.