Atlas revises FY 2012-13 forecasts amid record shipment in Sept quarter

Thursday, 18 October 2012 17:15:36 (GMT+3)   |  
       

Australian iron ore miner Atlas Iron has announced it has shipped a record 1.6 million wet metric tons of iron ore in the quarter ended on September 30, up 16.3 percent compared to the same quarter of 2011.

Accordingly, Atlas has revised its shipping forecast for the whole financial year 2012-13. The miner now expects to ship in the range of 7.2 million mt to 7.7 million mt in the given financial year, following a review of its production plan and other productivity initiatives. The earlier shipment forecasts were between 7 million mt and 7.5 million mt.

The company's managing director Ken Brinsden said, "While iron ore prices have been volatile, Atlas continues to receive strong demand for its standard product from a range of customers both inside and outside China."

Additionally, Atlas also announced that it has secured a funding facility of US$325 million as part of its strategy to grow its North Pilbara iron ore production. The company is targeting exports at a rate of 12 million mt per year by December 2013.


Similar articles

Iron ore prices drop by over $9//mt week on week, mood remains bad

28 Mar | Scrap & Raw Materials

Goa government to ease policy for liquidating iron ore dumps lying on private land

28 Mar | Steel News

Major steel and raw material futures prices in China - March 28, 2024

28 Mar | Longs and Billet

CISA: Coking coal purchase cost in China down 9.86% in Jan-Feb

28 Mar | Steel News

Brazilian high-grade iron ore price declines sharply in two days

27 Mar | Scrap & Raw Materials

Daily iron ore prices CFR China - March 27, 2024

27 Mar | Scrap & Raw Materials

India’s JSPL takes operational charge of iron ore complex in Venezuela

27 Mar | Steel News

Major steel and raw material futures prices in China - March 27, 2024

27 Mar | Longs and Billet

Vale selected to begin award negotiations for US briquette plant

26 Mar | Steel News

Daily iron ore prices CFR China - March 26, 2024

26 Mar | Scrap & Raw Materials