Atlas Iron production jumps

Miner reaffirms full-year guidance for iron ore shipped, cash operating costs.

Atlas Iron (AGO) has confirmed its full-year shipping guidance and cash operating cost guidance after its production jumped as it started operations at a new mine.

The group shipped 2.4 million wet metric tonnes of iron ore in the three months to September 30, compared with 1.6 million wet metric tonnes in the September 2012 quarter.

Strong production from its existing operations as well as the commissioning and ramp-up of the Abydos mine contributed to the result, the group said.

Atlas Iron says it is on track to ship nine million to 9.3 million metric tonnes in the full-year at a cash operating cost of $49 to $53 per tonne.

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