Atlas Iron Limited
(ASX:AGO) has confirmed its full-year shipping guidance and cash operating cost guidance after its production jumped as it started operations at a new mine.
The group shipped 2.4 million wet metric tonnes of iron ore in the three months to September 30, compared with 1.6 million wet metric tonnes in the September 2012 quarter.
Strong production from its existing operations as well as the commissioning and ramp-up of the Abydos mine contributed to the result.
Atlas Iron says it is on track to ship 9 to 9.3 million metric tonnes in the full-year at a cash operating cost of $49 to $53 per tonne.
Atlas managing director Ken Brinsden says the group now has a production rate of 10 million tonnes per annum.
Atlas Iron booked a net loss of $245 million in fiscal 2013.
