Atlas Iron Limited (ASX Code : AGO)
ATLAS WELCOMES NCC RECOMMENDATION TO DECLARE
GOLDSWORTHY RAILWAY
Atlas Iron Limited (ASX Code : AGO) welcomes the draft recommendation from the National Competition Council (NCC) that the Goldsworthy railway line should be declared under Part IIIA of the Trade Practices Act 1974 for a period of 20 years.
The Goldsworthy Railway crosses Atlas? Pardoo Project, 75 kilometres East of Port Hedland.
Historically the railway has been transporting iron ore at a rate of 8 million tonnes per annum. It currently services BHPB?s Yarrie operations1 at a rate of less than 1 million tonnes per annum. Haulage of Atlas? iron ore on the Goldsworthy Railway is likely to result in significant social, commercial and
environmental benefits.
?The Goldsworthy Railway is under utilised. It runs right past our project and it should be carrying our ore.? Commented David Flanagan, Atlas Managing Director. ?It?s the right thing to do and we will pursue every reasonable avenue to make it happen.? he added
Atlas would like to acknowledge FMG for lodging the declaration, The Western Australian State Government, Association of Mining and Exploration Companies (AMEC), the leading national representative body for all junior mining companies and the North West Iron Ore Alliance who each made strong submissions to the NCC in favour of declaring the Goldsworthy Railway.
Background
Atlas is working to complete environmental approvals and commence production of direct shipping grade iron ore (DSO) from its Pardoo Project by August 2008, with the first shipment of DSO expected to be completed by October 2008. The company is targeting export of 1 million tonnes of DSO iron ore during the first 12 months of operations and together with production from Abydos growing to 6 million tonnes per annum by 2010 and 12 million tonnes per annum by 2012.
For further details, please contact
David Flanagan
Managing Director
Atlas Iron Limited
Tel: +61 8 9476 7900
1. REF ? ?BHP BILLITON PRODUCTION REPORT FOR THE NINE MONTHS ENDED 31 MARCH 2008? Released to the ASX 23rd April 2008
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