Wed, 26 October 2011
Australian iron ore miner Atlas Iron Limited has announced that in the third quarter ended on September 30, 2011, it mined and shipped 1.46 million wet metric tons (wmt) of direct shipping ore (DSO), unchanged compared to the previous quarter.
Atlas had $373 million cash in hand as of September 30, 2011, slightly up from $365 million at the end of the previous quarter.
According to the Atlas statement, "As noted by other iron ore producers and in media coverage, the iron ore market has softened during October 2011 due to reduced Chinese steel demand and uncertainty on Europe's financial position."
Atlas is on target to export 1.5 million wmt in the December quarter.
Tags: iron ore , Australia , Atlas , raw mat , Oceania , mining , production
[source steel orbis]
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