Atlas Iron Limited (ASX:AGO) is aiming to improve profitability through boosting its output and cutting costs to offset the recent declines in the iron ore price.
The iron ore miner shipped a record 10.9 million tonnes over the 2014 financial year and is targeting to increase the figure by between 12 and 17 per cent.
If achieved Atlas would be shipping between 12.2 million tonnes and 12.8 million tonnes over the current 2015 financial year.
The company has also advised it is on track to lower costs and significantly reduce capital expenditure over the following year.
Managing Director Ken Brinsden says the year ahead will mark a key turning point in the company’s growth after a period of investment in project development.
Atlas Iron reported a net profit of $73.7 million in the first half of the 2014 financial year.
