Australian iron ore miner Atlas Iron has announced that it shipped 3.4 million wet metric tons of iron ore in the quarter ended on March 31, falling 10.5 percent compared to the previous quarter. In the March quarter, the company's iron ore production amounted to 3.02 million mt, down one percent quarter on quarter.
According to Atlas Iron's statement, the company reduced its cash cost in the March quarter to A$43/wmt, from A$46/wmt in the December quarter of 2014.
Atlas expects to significantly reduce cash costs across its Wodgina and Abydos operations during May 2015. Combined with improved iron ore market conditions and the pricing effect of the Abydos lump product, mining will continue at Abydos and will recommence later in May at Wodgina. In April, Atlas suspended its mining operations due to significant falls in the iron ore price.