Atlas Iron FY shipments increase

Emerging miner achieves record production in June quarter, sets ambitious 2014 guidance of between 9.8-10.3 million tonnes.

Atlas Iron Ltd has lifted its full-year shipments on the back of a record June quarter.

In the three months to June 30, Atlas Iron shipped 2.222 wet million tonnes, a record for the group.

For the full year, Atlas said it shipped 7.4 million tonnes, a 25% increase on the 2012 result.

Atlas set its fiscal 2014 production guidance in a range between 9.8 million tonnes and 10.3 million tonnes.

The group said unseasonably high rainfall in the June quarter had caused production issues to varying degrees across mining, processing, haulage and shipping.

"Despite excessive rainfall, total tonnes shipped for the June quarter still reflects a significant increase on the March 2013 quarter," Atlas said.

As at June 30, Atlas said it had $417 million cash on hand.