Shares in Atlas Iron Limited (ASX:AGO) rose on Friday after the iron ore producer confirmed its full year production forecast of up to 5.7 million tonnes.
Releasing its third quarter results Atlas revealed its shipments had fallen 13 per cent to 1.2 million tonnes as its operations took a hit from tropical cyclones.
Atlas also mapped out plans to inject and extra $630 million into its Pilbara expansion as it strives to double iron ore export capacity to benefit from rising demand from China.
Atlas has affirmed it expects the price of iron ore to remain strong and that it will continue to pay its shareholders dividends.
Shares in Atlas Iron gained 0.35 per cent on Friday, finishing the week at $2.88.
In the first half of the 2012 financial year Atlas Iron posted a net profit of $6 million.
