Atlas Iron (ASX: AGO)
ASX RELEASE 10 November 2008
ATLAS DELIVERS FIRST IRON ORE TO PORT
Atlas Iron Limited (ASX Code: AGO) is pleased to report that it has delivered the first iron ore from its 100%-owned Pardoo Iron Ore Project, to the Fortescue Metals Group (FMG) Anderson Point Port facilities in Port Hedland, marking a significant milestone for Atlas Iron.
Mining is currently underway at the Pardoo Project, located 75 kilometres east of Port Hedland in the Pilbara of Western Australia. Ore is currently being hauled to Port Hedland on the Great Northern Highway in quad-configured road trains.
As agreed with FMG, the Atlas iron ore will be stockpiled in FMG?s stockpile area and then reclaimed and loaded onto a Panamax (65,000 tonne) ship provided by Atlas? iron ore off-take customer in early December.
This delivery of iron ore to the FMG Port Hedland facilities and the subsequent use of the FMG ore handling and ship loading equipment, represents the first-ever provision of a true third-party infrastructure service in more than 40 years of iron ore mining in the Pilbara.
"The Pardoo Mining team led by Ken Brinsden and Jeremy Sinclair and managed by Adam Liebenberg and Mathew Ramsden, have achieved commissioning and ramp-up on budget and on time", commented David Flanagan, Atlas Managing Director. "They are part of a terrific group of professionals and I can?t wait to see what they can accomplish in the years ahead."
Road Train delivering ore to the FMG Port
Background Atlas Iron
Atlas recently commenced mining at its 100%-owned Pardoo Iron Ore Project in the Pilbara of Western Australia where it is targeting its first shipment in December 2008. Atlas is fully-funded with approximately $100 million cash at bank and no debt, as it completes commissioning of Stage One and ramp up to 1Mtpa iron ore production. Atlas is planning to export1 million tonnes during its first 12 months of operations at the Pardoo Project, growing to 3 Mtpa for year 2. With additional export tonnages from its Abydos Iron Ore Project, the Company is targeting exports of 6 Mtpa for 2010, growing to 12 Mtpa by 2012.
For further information please contact
David Flanagan, Managing Director
Ken Brinsden, Operations Manager
Tel: (08) 9476 7900
READ CORPORATE
Public Relations Corporate Communications
T: (+61-8) 9388-1474 | F: (+61-8) 9388-1472 | E: info@readcorporate.com.au | Web: www.readcorporate.com.au
PLEASE NOTE:
This e-mail and any attachments may contain confidential and/or privileged material and is for the intended addressee(s) only. If you are not an intended addressee, you must not use, copy, retain, disclose or distribute this information. Please notify the sender immediately by return e-mail and delete the message from your system. If you believe that this message constitutes a Commercial Electronic Message (CEM) under the Spam Act 2003 and you wish to unsubscribe please contact the originator of this message with the subject line of unsubscribe.
Note: Virus scanning is carried out on all incoming and outgoing email, but cannot be guaranteed to be timely, secure, error or virus-free. To protect against computer viruses, e-mail programs may prevent sending or receiving certain types of file attachments. If you are having problems please check your e-mail security settings to determine how attachments are handled.