ABN reported that Atlas Iron Limited is exporting iron ore through the port of Port Hedland and actively exploring for Direct Shipping Ore in the Pilbara of Western Australia. With a growing number of high quality iron ore projects and one of the largest exploration landholdings in the Pilbara, the Company has the resources to underpin rapid expansion plans in the North Pilbara over the next 3 years.
In the longer term Atlas is seeking to expand its operations into the Newman area, through its planned merger with Warwick Resources Limited which is expected, subject to Warwick Resources shareholder and option holder approval to be completed in mid December 2009.
While exporting iron ore from the Pardoo mine, Atlas is also active in feasibility assessment, new acquisitions, target generation and grass roots exploration. Ongoing project definition through acquisition, exploration and feasibility studies has delivered a strong project pipeline which the Company considers has the potential for a production rate of 12 million tonnes per annum of Direct Shipping Ore by 2012.
As the Company demonstrates its capacity to discover, assess and develop, it is well positioned to advance a number of projects concurrently with the intention to both expand the Company's production base and extend mine life.
(Sourced from Abnnewswire.net)
