Posted on 30 Oct 2025
Australian miner csubsidiary, Atlas Iron, has maintained ore sales of 10 million wet metric tonnes (wmt) in the financial year ended 30 September 2025 despite the production interruptions caused by Cyclone Zelia, Kallanish notes.
The firm says in a statement that it has maintained its maximum shipment allocation through Utah Point amid the impact of the production downtime caused by the cyclone as its team has produced consistent product quality from its Mt Webber, Sanjiv Ridge and Miralga mines.
However, the firm’s net profit for the year plunged to AUD 260 million ($172 million) from AUD 440m a year ago as its average realised price reduced by 18% year-on-year to $85/wet metric tonne.
Meanwhile, its McPhee project has received all environmental approvals and commenced construction in the second quarter. Its first ore delivery and the completion of the road upgrades are both expected within the next financial year. This follows the progress of the upgrade of the Marble Bar Road section between McPhee and Roy Hill mine.
During the year, Atlas also entered an offtake agreement with Roy Hill. Under the deal, Atlas will mine and deliver McPhee ore for purchase by Roy Hill at its site. Roy Hill will blend, process and transport this ore via its rail and port facilities for sale into the seaborne iron ore market.
A forward plan on derisking the Ridley Magnetite project and advancing long-lead approvals was also implemented during the year.
“Looking ahead, by bringing together our two iron-ore operating businesses under the Hancock Iron Ore banner, we are well positioned to unlock further value for our customers, partners, and staff,” Hancock Iron Ore’s chief executive officer, Gerhard Veldsman says.
Source:Kallanish
