Australian iron ore miner Atlas Iron has announced that it shipped 3.7 million wet metric tons of iron ore in the quarter ended on June 30, falling by three percent compared to the previous quarter, due to an unplanned six-day port out-load shut in June when the Utah Point ship loader was damaged while loading another proponent’s vessel. In the June quarter, the company's iron ore production amounted to 3.64 million mt, down five percent quarter on quarter.
According to the company’s statement, it has achieved significant cost and debt reductions over a number of months and this is now leading to strong operating margins. Atlas Iron generated A$30 million from its operations over the June quarter after interest payments and contractor profit sharing obligations.