Atlas Iron Limited Stock Market Press Releases and Company Profile

View in Other Languages Atlas Iron Limited (ASX:AGO) Posts Shipping Record In March 2011 Atlas Iron Limited (ASX:AGO)2011年3月出口量再创新高 Atlas Iron Limited (ASX:AGO)2011年3月出口量再創新高 
Atlas Iron Limited (ASX:AGO) Posts Shipping Record In March 2011
Atlas Iron Limited (ASX:AGO) Posts Shipping Record In March 2011

Perth, April 4, 2011 AEST (ABN Newswire) - Atlas Iron Limited (googlechartASX:AGO) is pleased to advise that it exported a record 547,404 tonnes (WMT) of DSO in the month of March 2011, beating the Company's previous record of 541,000 tonnes (WMT) recorded in October 2010.

The result has delivered Atlas A$240 million cash on hand as at 31 March 2011, up from A$143 million as at the end of the previous quarter (excluding any cash acquired via the Giralia takeover). The increase reflects strong sales volumes, higher iron ore prices and reduced operating costs relative to the first half.

Exports for the March 2011 quarter were 1.39 million tonnes (WMT), in line with the guidance provided to the market on 24 February 2011.

Atlas is on target to export 1.5 million tonnes in the June quarter. It expects cash costs to remain at A$40- 43/tonne for the rest of this financial year, with depreciation and amortisation anticipated to be an additional A$5-7/tonne. These production costs are globally competitive, which is a significant achievement given the low capital costs of the Atlas projects.

Atlas Managing Director David Flanagan said the record result reflected the highly efficient nature of Atlas' operations and their ability to generate substantial cashflow.

"This strong result, which came despite terrible weather during the quarter, highlights the underlying strength of the Atlas business," Mr Flanagan said.

"It also represents the ongoing efforts of our staff and contractors across our operations, who have worked hard to set a fresh record."

About Atlas Iron Limited

Atlas Iron ASX:AGOAtlas Iron Limited (ASX:AGO) is an independent Australian iron ore company, mining and exporting Direct Shipping Ore (DSO) from its operations in the Northern Pilbara region of Western Australia. Since listing on the ASX in late 2004, Atlas has grown rapidly and is now a member of the ASX100 index.

abnnewswire.com 


Contact

David Flanagan
Managing Director
Atlas Iron Limited
Telephone: +61-8-9476-7900
http://www.atlasiron.com.au



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