The Koolyanobbing mine in WA sold 2 million tonnes of iron ore in the December quarter, down 30% year-on-year.
Full-year sales dropped to 10.1Mt from 11.8Mt and the margin per tonne dropped to US$4.50 per tonne from $9.75/t.
Cash costs were $44.56/t for the December quarter, up by 22% year-on-year, due to increased mining costs, driven by a change in the overall production plan resulting in a higher strip ratio, as well as increased logistics and unfavourable exchange rate variances.
As a result, the sales margin per tonne dropped to negative $3.41/t for the quarter, down from $18.89/t a year earlier.
The business reported a negative $3 million adjusted EBITDA for the fou...