On January 7, Australian iron ore producer Atlas Iron Limited (Atlas) announced that it is currently exporting ore from its Pardoo iron ore project, located 75 kilometers east of Port Hedland in the iron ore-rich Pilbara region of Western Australia.
Accordingly, Atlas is also rapidly advancing the development of a second iron ore mine at Wodgina 100 kilometers south of Port Hedland and is working to complete the process of engaging a strategic partner for the development of the Ridley magnetite deposit located at Pardoo.
In relation to the Wodgina project development, which Atlas is currently working to bring into production, Atlas stated that it has received strong interest from steel mills seeking to acquire offtake to this iron ore. The company added that these discussions are advancing well, though they have not been completed.
In relation to engaging a development partner for the Ridley magnetite deposit, Atlas said that it has received strong interest from capable organizations and that talks are still ongoing.
Atlas noted that the market for iron ore is very strong, as reflected in the spot price, and that the strength of demand is reflected in Atlas' discussions.
In 2009 Atlas shipped its target of one million metric tons during its first 12 months of operations. When combined with additional export tonnages from its Abydos and Wodgina projects, the company targets total exports at an annualized rate of six million metric tons in 2010, growing to 12 million metric tons in 2012.