Atlas wins iron ore sales at premium

Company News


Atlas Iron (ASX:AGO) says it has locked in a new iron ore sales agreement for the next 2 years.
 
The deal with an unnamed international trading group will see Atlas supply 5 million tonnes per annum.
 
There are four 6 month options of fixed price sales at a premium to the published forward price. 
 
Managing Director David Flanagan says the demand for iron ore is strong and Atlas is aware of other suppliers achieving sales at a premium which is pointing to a favourable outlook. 
 
Atlas Iron reported a net loss of $1.37 billion for the 2015 financial year.