Atlas reports massive revenues for 2020
PERTH (miningweekly.com) – Iron-ore miner Atlas Iron has reported revenues of A$1.7-billion in the 2020 financial year ended June, as sales increased to 9.7-million tonnes from the 9.1-million tonnes reported in 2020.
Revenue for the 2021 financial year was 66% higher than the previous corresponding period, driven by both higher production and a 58% increase in Atlas’ average realised price.
The company, owned by mining magnate Gina Rinehart, reported consisted production from its Mt Webber and the newly commissioned Sanjiv Ridge operations during the year.
Construction of the Sanjiv Ridge operation was completed during the year, on budget and ahead of schedule, with first haulage completed one month ahead of plan.
Meanwhile, the company said this week that regulatory approvals are in place for the development of the Miralga project, allowing ground disturbance activities to start. Key operating contractors will mobilise to site early in the first half of the 2022 financial year.
First haulage from Miralga is expected in the fourth quarter of the 2022 financial year.
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