Atlas Iron reaches target production rate

Company News

Atlas Iron Limited (ASX:AGO) has reached its target production rate four months ahead of schedule.
 
The iron ore miner achieved its production target of 14-15Mtpa in August, and anticipates sustainable production at this rate.
 
Increased realised prices have resulted in stronger margins in the month of August. 
 
Atlas Iron's average realised sale price for August was $61/WMT CFR.
 
Atlas Iron’s Managing Director David Flanagan notes positive cashflow, improved costs and rising production have placed the miner in an increasingly strong position. 
 
Atlas Iron recorded a net loss of $1.4 billion for FY2015.