Atlas Iron Limited (ASX: AGO)
ASX RELEASE 2 DECEMBER 2008
ATLAS APPOINTS GEOFF CLIFFORD AS CHAIRMAN
Atlas Iron Limited [ASX Code: AGO] is pleased to report that the Atlas Board of directors has unanimously elected Mr Geoff Clifford as Independent Non Executive Chairman of the Company.
Mr Clifford has been an independent non executive director of Atlas since August 2007 and is Chairman of the Company?s Audit and Risk Committee.
From August 2005 until February 2007, Mr Clifford was non executive director of and consultant to Aztec Resources Limited. Prior to his time at Aztec, Mr Clifford was General Manager Administration and Company Secretary of Portman Limited for 8 years. Portman owns and operates the Koolyanobbing iron ore project (7-8 mtpa) and has a 50% interest in the Cockatoo Island iron ore project.
Mr Clifford holds a Bachelor of Business degree from Curtin University and undertook post graduate studies in Administrative and Secretarial Practice. Mr Clifford has more than 30 years experience in senior roles in the mining, retail and wholesale industries.
Mr Clifford is currently Vice President of the West Australian State Council of Chartered Secretaries Australia, and non executive director of ASX listed companies Fox Resources Limited, Glengarry Resources Limited and RMA Energy Limited.
The Board of Atlas has decided to proceed with identifying and appointing an additional independent non executive director. Atlas will advise the market immediately this appointment is made.
Background
Atlas Iron is debt free, with approximately $100 million in cash. The Company has commenced mining at its Pardoo project and expects to commence exports from Port Hedland during December 2008. The Company is planning to export 1 million tonnes during its first 12 months of operations at the Pardoo Project, growing to 3Mtpa within approximately 12 months. Together with additional export tonnages from Abydos, the Company is targeting exports of 6 Mtpa by 2010, growing to 12 Mtpa by 2012.
For further information please contact
David Flanagan, Managing Director
Tel: (08) 9476 7900
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