Atlas Iron approves development of Corunna Downs iron ore project

Thursday, 16 February 2017 13:49:07 (GMT+3)   -   Istanbul
SteelOrbis News

Australian iron ore miner Atlas Iron has announced that it has approved the development of the Corunna Downs iron ore project located 40 km from the company’s Mt Webber project in the Pilbara region of Western Australia. The project will be funded from operating cash flow, while the capital cost of the project is estimated to be in the range of A$47-53 million.

Atlas Iron’s managing director Cliff Lawrenson stated that Corunna Downs, together with Mt Webber, will rebuild the company’s production rate to approximately 12 million mt per year after Wodgina and Abydos mines cease production in the first and second half of the current year respectively.

Shipment of iron ore from Corunna Downs is planned to commence in the March quarter of 2018 at an initial production rate of four million mt per year over the mine life of five to six years. Combined with the expansion of Mt Webber, Atlas is targeting a total export rate of 12 million mt per year by the June quarter of 2018.

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