Atlas Iron has announced significant growth in its direct shipping ore (DSO) resource and reserve positions for its Pilbara iron ore operations.
According to the company, an aggressive exploration campaign has seen its DSO resources increase 56.5% since January to 94.9 million tonnes.
Atlas also announced its DSO reserves had increased by 57.9% to 25.5 million tonnes since July last year.
The improved resource and reserve levels have placed Atlas in a strong position for the future, managing director David Flanagan said.
“With a world class access open port and transport infrastructure on our doorstep, this rapidly growing resource and reserve inventory clearly presents a huge opportunity for Atlas shareholders,” he said.
“On top of this we are fully funded with no debt and we are seeing very strong demand for our iron ore.”