Australian iron ore miner Atlas Iron has announced that it shipped 3.1 million wet metric tons of iron ore in the quarter ended on June 30, falling by 3.1 percent compared to the previous quarter. In the June quarter, the company's iron ore production amounted to 2.8 million mt, down 18 percent quarter on quarter.
Meanwhile, in the full financial year of 2016-17, Atlas Iron shipped 14.4 million wet metric tons of iron ore, decreasing slightly from the previous financial year.
Atlas Iron’s managing director Cliff Lawrenson stated that the company delivered on its iron ore shipment guidance for the financial year 2016-17, while reducing debt and building a more flexible production base for the future. The company generated A$9 million of net cash from its operations in the June quarter despite lower iron ore prices and in the full financial year it generated over A$100 million of net cash from operations, even though iron ore markets were challenging during the year, he added.