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Turner River Hub To Play Key Role In Growth To 12Mtpa

Thursday, September 2nd, 2010

Atlas Iron Limited is pleased to report that its plan to establish a centralised processing and haulage point to underpin its expansion push has been strongly supported by a pre-feasibility study.
The Turner River Hub would blend and process ore from 3 of Atlas’ 4 North Pilbara iron ore projects (Wodgina, Abydos and Mt Webber) in preparation for transport to the new Utah Point Port Facility at Port Hedland 95kms away.
The Hub would have an annual capacity of 10 million tonnes, meaning it will play a key role in Atlas’ plan to double its production from six million tonnes a year this Christmas to 12 million tonnes a year by 2012.
It will also deliver substantial economies of scale, thereby reducing per unit costs, and bring the benefits of blending ore types from multiple sources, including optimum prices and longer mine lives.
The ore for the Hub would be sourced from Atlas’ Wodgina, Abydos and Mt Webber iron ore projects. Ore from Atlas’ current mine, Pardoo, will not be processed at the Hub but will continue to account for about two million tonnes per annum.
The Turner River Hub’s location will also help underpin further project development within Atlas’ existing North Pilbara exploration project portfolio, including the Wodgina North, Western Shaw, Pincunah and Miralga Creek exploration projects.
Atlas has up to 15Mtpa of capacity at the Utah Point Port Facility. Utah is currently being commissioned with the first vessel, the “Bergen Max” due to berth and commence ship loading Atlas ore on 17 September 2010.
“With mine production from Pardoo and Wodgina ramping up and on track for a 6Mtpa export rate by Christmas. Atlas is growing its production rates very quickly.” Managing Director David Flanagan said.
“Atlas is the only Australian iron ore company targeting a five-fold increase in exports over the next four months and a plan to get to 12Mtpa in 2012.”
“We believe the Company’s rapidly growing production and cashflow makes Atlas an attractive investment opportunity.”

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