Atlas Iron says debt-restructure will create sustainability

Company News

Atlas Iron Limited (ASX:AGO) has acknowledged all of the challenges it has faced in its December quarterly report, but says the company will become more sustainable. 
 
The junior iron ore miner says the quarter was marked by a significant debt restructure agreement, an increase in tonnes shipped and volatile iron ore prices. 
 
Atlas Iron Managing Director David Flanagan says the debt restructure agreement was an important step in making the company more sustainable, particularly in the face of volatile iron ore markets. 
 
In addition, the falling Australian dollar, low freight prices and further interim cost savings will assist Atlas in remaining competitive. 
 
Atlas Iron reported a net loss of $1.37 billion at 30 June 2015.