Atlas Iron will develop the Wodgina DSO Project in the Pilbara after posting positive interim results from its Feasibility Study.
Atlas managing director David Flanagan said the site holds strong grade and ore quality, as well as globally competitive cash operating costs.
“Low strip ratios and operating costs, minimal environmental impact and the fact the site is close to the world’s largest iron ore export port, present a huge opportunity,” he said.
The company’s environmental impact assessment is well advanced with specialist studies now underway.
Preliminary results have revealed no significant environmental impediments and all statutory approvals are expected to be achieved in a timely manner.
Shipping is expected to start by the second quarter in 2010 subject to mine approvals and statutory guidelines.