Atlas Iron shipments up but profit down
Western Australian miner, Atlas Iron increased iron ore shipments by 22% in the 2011-2012 financial from 4.6 million tonnes (mt) in 2011 to 5.6mt in 2012.
Increases in the company’s shipments didn’t however manage to increase profits. Atlas Iron’s net profits after tax dropped 32% to $115m in 2012 from $169m in 2011.
This is despite revenue increasing $33m. However operational costs increased 29%...
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