Australian iron ore miner Atlas Iron Limited has announced its financial results for the financial year 2014-15 ended June 30.
According to the results, in the given period Atlas recorded a net loss of A$1.4 billion, compared to a net profit of A$14.2 million in the previous financial year. Sales revenues of Atlas in the given period decreased by 34.5 percent year on year to A$718.5 million, following the significant fall in iron ore prices on US dollar basis during the year, while iron ore shipments amounted to 12.2 million mt, up 11.9 percent year on year.
Atlas Iron said that the capital investment to support its production target of 14-15 million mt has now been completed.