Atlas Iron Limited [ASX: AGO]
ASX RELEASE 06 AUGUST 2008
ATLAS SIGNS PORT ACCESS AGREEMENT WITH FMG
Atlas Iron Limited [ASX Code: AGO] is pleased to announce that it has today signed a binding Heads of Agreement with Fortescue Metals Group Limited (ASX Code: FMG) for access to FMG?s Port Hedland port facility for initial production from Atlas? Pardoo Direct Shipping Ore (DSO) Project, which is scheduled to commence production in October 2008.
?This is a ground breaking Third Party Port Access Agreement, the first of it?s kind in Western Australia? commented David Flanagan Atlas Managing Director. ?We now look forward to building on our association with FMG as we commence development of our second iron ore project 120km south of Port Hedland at Abydos.? he added.
Background
Atlas is on track to commence mining in October 2008 at its Pardoo DSO Project and to commence DSO exports from Port Hedland in the 4th Quarter of 2008. Together with additional DSO export tonnages from Abydos, Atlas is targeting exports of 6 million DSO tonnes per annum by 2010 and 12 million DSO tonnes per annum by 2012 through Port Hedland.
For further information please contact
David Flanagan, Managing Director
Tel: (08) 9476 7900
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