Arrium Sells Iron Ore at a Loss

Australian Mining reported that Arrium (ASX:ARI) sold iron ore at $9 loss per tonne during the first quarter.

As quoted in the market news,

The company’s March quarter production report showed its total cash cost per tonne was $66.90, but the group’s average realised sales price was just $58 a tonne.

A major shake-up earlier this year saw Arrium mothball is Southern Mining operation.

The company announced it was redesigning its South Australian based mining operation to provide sustainable cash flow in light of falling iron ore prices.

Click here for the full Australian Mining report