Atlas reports 50 percent increase in northern Pilbara reserves

Wednesday, 01 September 2010 12:04:45 (GMT+2)

Emerging Australian iron ore miner Atlas Iron Limited has announced a 50 percent increase in reserves for its northern Pilbara projects in Western Australia.

The company said that the development paves the way for the company to increase production from the current planned rate of 6 million mt per annum towards its next target production rate of 12 million mt per annum by the end of 2012. Atlas plans to ramp up production to the rate of 6 million mt per annum by Christmas.

The increase takes the revised reserve estimate for the northern Pilbara projects, which comprise the Pardoo, Wodgina, Abydos and Mt Webber projects, to 53.7 million mt of 57.7 percent Fe grade. This reserve figure includes the maiden reserve at Mt Webber of 19.1 million mt at 57.6 percent Fe.

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