Atlas ships record 1.75Mt of iron in Dec quarter
PERTH (miningweekly.com) - Iron-ore miner Atlas Iron on Friday reported a record shipment for the three months to December as its Mount Dove operation increased production.
During the three months to December, the miner shipped a record 1.75-million tons of ore, a 10% increase on the figures achieved in the preceding three months.
Production for the period under review also increased by 30% to more than two-million tons of ore, with 1.7-million tons of ore processed and 1.8-million tons hauled to port.
MD Ken Brinsden said on Friday that the company had now expanded its North Pilbara production rate to some eight-million tons a year with the start of the Mount Dove operation, and was expected to further increase this to ten-million tons a year by June this year, and to 12-million tons a year by the end of the calendar year.
The increase in production would be driven by the start of the Abydos mine, where haulage and shipping were scheduled to start from June this year, at a rate of between two- and three-million tons a year.
The Mount Webber operation was also expected to start production in December of this year, with studies indicating a staged development as the best option. Atlas was initially targeting a three-million-ton-a-year direct-shipping-ore project at Mount Webber.
Brinsden noted that, during the quarter under review, work also continued on the Utah Point Yard 2 expansion project, where Atlas was developing port facilities to increase its export capacity over the remainder of the year, and which would enable the facilities to accommodate the additional tonnage as production increased.
Funding for the expansion to 12-million tons a year was already in place, with Atlas having completed a $325-million financing package during December last year.
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