Australian iron ore miner Atlas Iron has announced that it shipped 2.2 million wet metric tons of iron ore in the quarter ended on December 31, decreasing by 26.6 percent compared to the previous quarter. In the December quarter, the company's iron ore production amounted to 2.26 million mt, down 24 percent quarter on quarter.
Meanwhile, Atlas Iron stated that it is set to take another key step in the strategy to reposition its business by repaying a further A$20 million of its debt.
The company’s managing director Cliff Lawrenson said the decision to reduce the debt was in line with the company’s strategy to re-position the business and the strong Australian dollar made the timing opportune. Following this A$20 million repayment, Atlas Iron will have reduced its debt from more than A$180 million in June 2016 to less than A$85 million.