Atlas spruiks its expanding portfolio

Iron ore producer Atlas Iron has highlighted its expanding production profile, confirming its mine and port developments are on track to achieving 10 million tonnes per annum capacity.

Shipping a record 960,000 tonnes of iron ore in August, Atlas Iron has also set a new company record.

Atlas has already shipped two million tonnes of iron ore this financial year and said it is on track to achieve its full year guidance of 9.8 to 10.3 million tonnes

The miner has also achieved first production at its Abydos mine, located 130 kilometres south of Port Hedland, the operation is part of the company’s Horizon 1 growth program.

With Direct Shipping Ore (DSO) production expected to ramp up over the coming months to a rate of two to three million tonnes per annum, Abydos has an expected mine life of six to ten years.

“Abydos is now a key contributor to the overall product mix,” the company stated.

Mt Webber construction commences

Atlas has also kicked off construction at its Mt Webber mine, marking five mines commenced in five years, company managing director Ken Brinsden stated.

 “In the process, we are delivering strong operating cash flows,” he said.

"Atlas has both a successful operating business today and significant growth options for tomorrow.”

Atlas controls 70 per cent of the Mt Webber development, with Altura Mining holding the remaining 30 per cent interest.

BGC Contracting has been awarded the contract for the sites mining and processing services, while Decmil won the contract to build the mine village.

Mining at the Ibanez pit is expected to commence in October with first shipments expected in quarter two next year.

Utah Point underway

Atlas-Utah-Yard-2-wet-commissioning-commences.JPGAtlas-Utah-Yard-2-wet-commissioning-commences-1.JPGWet commissioning of its additional port stockyard and ship-loading capacity at Yard two in Utah Point is also underway.

“Our existing and future port allocations, combined with a substantial Pilbara resource and reserve base ensures Atlas offers outstanding leverage to strength in the iron ore price,“ Brinsden said.

First ore on ship through Utah Yard two is expected this week.

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