Australian iron ore miner Atlas Iron has announced that it shipped 3.6 million wet metric tons of iron ore in the quarter ended on December 31, rising by 10 percent compared to the previous quarter. In the December quarter, the company's iron ore production amounted to 3.5 million mt, down six percent quarter on quarter.
According to Atlas Iron's statement, compared to the September quarter, the company’s cash cost remained stable in the December quarter at A$36/wmt.
The company stated that iron ore markets have remained challenging into January this year, though the falling Australian dollar, low freight prices and further interim cost savings negotiated in December 2015 will assist Atlas in remaining competitive during the completion of debt restructuring. Atlas managing director David Flanagan commented that the debt restructuring agreement in the December quarter is an important step in making Atlas more sustainable, particularly in volatile iron ore markets.