All three Atlas mines up and running as Mount Webber resumes operations
Iron-ore miner Atlas Iron has restarted mining operations at its Mount Webber mine, in the Pilbara, and last week said that processing would resume in mid-July.
Mount Webber was the last Atlas mine to resume operations in the Pilbara and with all three of its mines now back in production, the company was confident of meeting its targeted year-end production rate of between 14-million tonnes and 15-million tonnes a year.
Mount Webber would produce at rate of six-million tonnes a year.
“With Mount Webber mining operations now back under way, Atlas is on track to grow production over the remainder of 2015 with significantly improved margins compared with operations pre-suspension, thanks in large part to the support of our key contractors and suppliers,” MD David Flanagan commented.
The company in April announced the suspension of operations in the Pilbara, owing to weak iron-ore prices.
Last month, Atlas agreed a deal with contractor BGC Contracting to allow for mining to resume at Mount Webber. The agreement followed on collaboration agreements with key contractors at Abydos and Wodgina in May.
The agreements at Abydos and Wodgina, and subsequently at Mount Webber, would deliver a break-even price of $50/t.
At the Wodgina and Abydos mines, Atlas agreed to a contractor collaboration model, where contractors could receive an uplift in their rates as the iron-ore price increased, and would receive a total of 25% of applicable positive net operating cash flows.
Atlas reported that its sales programme was progressing well, with a largely fully sold position established for the September quarter and sales progressing into the December quarter, locking in the US dollar iron-ore price in respect of these sales.
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