Emerging Australian iron ore producer Atlas Iron has announced that the authorities at Port Hedland in the Pilbara region of Western Australia have granted it permission to make additional shipments between June and September 2010 via Berth 1, enabling the company to boost its sales at a time of strong iron ore prices.
A company statement said that Atlas will export up to one shipment per month via Berth 1 in panamax vessels, each containing in the order of 60,000 mt, during this period. The combined additional tonnage available to Atlas in the next four months is expected to be in the order of 180,000 to 240,000 mt starting in June 2010.
As SteelOrbis previously reported, Atlas is trying to accumulate a significant ore stockpile in the lead-up to the start of exports from the Utah Point port facility in Port Hedland, allowing Atlas to maximize the number of shipments of iron ore in what is anticipated to be a period of very strong iron ore prices.
Atlas recently agreed to buy Aurox Resources Ltd, a more junior iron ore miner, in a deal worth AU$149 million. Shareholders of Aurox will be asked to approve the scheme at meetings expected to be held in late May 2010.