Atlas` iron ore shipments surge in Sep qtr

Atlas Iron Ltd has reported a surge in iron ore shipments and says it continues to
ramp up exports of the bulk commodity.
Atlas shipped 293,485 dry tonnes of iron ore in the three months to September 30, up
78 per cent from 164,706 tonnes in the June quarter.
It mined 774,653 tonnes in the September quarter, a 173 per cent jump from 283,114
tonnes in the previous quarter.
The Perth-based company said mining, ore processing and port haulage rates were at,
or above, its internal forecasts.
The commencement of mining at its second mine in Western Australia's Pilbara region,
Wodgina, in June placed it on track to ramp up iron ore exports from more than one
million tonnes per annum (Mtpa) to 6Mtpa during the current quarter.
"The company continues to pursue its growth target of exporting at a rate of 12Mtpa
by the end of 2012," Atlas said in a statement on Wednesday.
It said there was some short-term weakness in iron ore demand in September as its
Chinese steel maker customers cut back production due to power rationing in certain
provinces.
Iron ore demand and prices had recovered during October, the company said.
Atlas said its cash operating costs were expected to drop from about $52 per tonne
in the September quarter to $40-43/t from January 1 as benefits from economies of
scale and the move to the newly commissioned Utah Point multi-user port facility
take full effect.
Atlas had until recently used Fortescue Metals Group Ltd's facilities at Port Hedland.