Atlas is an emerging producer and active explorer focused on the discovery and development of iron ore projects. With a growing number of high quality iron ore projects and one of the largest landholdings in the Pilbara (8,900km2) located close to infrastructure, the Company has created a successful business by targeting resources and reserves capable of being mined with relatively low capital expenditure.
Atlas became the Pilbara's fourth largest iron ore producer in October 2008, with initial production from its Pardoo project, located 75km east of Port Hedland. The Company is also conducting a definitive feasibility study on mining additional resources at Abydos, 130km south of Port Hedland, with production expected to commence in late 2009.
The Company has aggressive exploration programs underway across its tenement portfolio, with an exploration target of 170-220 million tonnes grading 57-60% Fe. This will underpin an expanded long-term production business. Advanced exploration prospects in the Greater Abydos area, including Wodgina and Mt Webber, are expected to underpin the bulk of the resource expansion in the next 12 months.
Atlas is targeting iron ore exports at an initial rate of 1 million tonnes per annum during the first 12 months of operations at Pardoo. Together with additional export tonnages from its Abydos project, the Company is targeting exports of 6 million tonnes by 2010 and 12 million tonnes by 2012.
About Atlas Iron Limited
Atlas Iron Limited (ASX:AGO) is an independent Australian iron ore company, mining and exporting Direct Shipping Ore (DSO) from its operations in the Northern Pilbara region of Western Australia. Since listing on the ASX in late 2004, Atlas has grown rapidly and is now a member of the ASX100 index.
Atlas Iron Limited