October 29, 2010 Atlas Iron announced that it has achieved an annualised export rate of over 6Mtpa in October 2010, 2 months earlier than planned. Atlas is now preparing to grow its annualised export rate to 12Mtpa by December 2012.
April 14, 2009 Atlas Iron reported the outcomes of the Preliminary Feasibility Study (PFS) for its 100%-owned Ridley Magnetite project, located 75 km east of Port Hedland in the Pilbara region of Western Australia. Based on initial Ore Reserve estimate of 970 million tonnes at 36.0% Fe, the PFS mine plan envisages a truck-and-shovel open pit operation delivering ore to the concentrator via a system of inpit crushing stations and conveyors, at a rate of over 48 million tonnes per annum. This is sufficient to produce 15 million tonnes per annum of blast furnace grade magnetite, at an average grade of 68.3% Fe. The estimated capital requirement for the establishment of the project is A$2,972 million including contingency of A$250 million. The annual average operating cost is estimated at A$36.22 per tonne of concentrate, or A$12.64 per tonne of ore mined. The conceptual mine life is estimated at 30 years.
April 14, 2009 Announced the outcomes of the Preliminary Feasibility Study (PFS) for the Ridley Magnetite project. Highlights include: expanded concentrate production of 15 million tonnes per annum at 68.3% Fe; project establishment cost estimated at A$2,722 million +A$250 million contingency; average real operating cost of A$36.22/tonne concentrate FOB; average EBITDA per annumm of A$535 million: mine life more than 30 years.
