Australian iron ore miner Atlas Iron has announced that it shipped 3.2 million wet metric tons of iron ore in the quarter ended on March 31, falling by 20 percent compared to the previous quarter. In the March quarter, the company's iron ore production amounted to 3.42 million mt, down 16 percent quarter on quarter.
Atlas Iron’s managing director Cliff Lawrenson stated that the company has posted a solid production result despite the challenging weather. According to Mr. Lawrenson, in the March quarter the company’s margins were good and free operating cash flow was strong.
Atlas Iron will pay a further A$8 million of its debt later in the current month as well as set aside A$20 million to help fund its Corunna Downs iron ore mine.