Australian iron ore miner Atlas Iron has stated that it plans to double production by the end of 2013 after increasing its shipments by 25 percent in the second quarter of the current year, compared to the previous quarter. Atlas Iron's shipments totaled 1.5 million mt during the quarter in question, consistent with the company's previous guidance.
In the fiscal year 2011-12, the company's total iron ore shipments amounted to 5.57 million mt, rising 21 percent compared to the fiscal year 2010-11, and also in line with the estimates provided in January 2012.
The company's managing director Ken Brinsden said, "We have ensured Atlas is well on track to double production to 12 million mt per year by the end of next year and we have made further significant progress in bedding down the reserves needed to underpin our longer-term production target of 46 million mt per annum by 2017."
Meanwhile, the Australian miner has announced a 70 percent increase in its Pilbara ore reserves since it completed the acquisition of FerrAus in the fourth quarter of 2011. Accordingly, its Pilbara ore reserves have risen to 414 million mt.
Mr. Brinsden noted that another significant ore reserve and mineral resource update, particularly from the McPhee Creek project, is expected with the December 2012 quarterly report.