Atlas Iron Ltd
(ASX:AGO) has announced that it has hit an export rate of six million tones per annum two months ahead of schedule.
The advancement has spurred Atlas to increase its targets and is now targeting an annualized export rate of 12 million tonnes per annum by the end of 2012.
In October Atlas shipped over 541,000 tonnes through the port of Port Hedland, well above the company’s goal.
Managing Director David Flanagan says the result reflects the miners ability to start a new mine, get the ore to port and onto ships at the right specification, on budget and ahead of time.
The announcement comes following news last week that Atlas increased iron ore shipments by 78 per cent in the September quarter, while iron ore mining grew by 173 per cent over the period.
Atlas Iron improved its result in fiscal 2010, while still reporting a net loss of a $40.85 million in the year to 30 June.
