Atlas Iron Limited is pleased to advise that it is on track to produce at the rate of 10 million tonnes per annum during the September 2013 Quarter with the successful progress of its near term development projects. Furthermore, with mine production at its existing mine projects at Pardoo, Mt Dove and Wodgina progressing well the Company is on track to ship 2.2Mt during the June 2013 Quarter. Atlas has also made significant progress towards the development of its next mine, Mt Webber, with the final State and Federal mine environmental approvals received. With the detailed Joint Venture negotiations progressing with its minority project partner Altura, Atlas is targeting referring the project to the Atlas Board by 30 June 2013.

Elsewhere, Atlas’ existing development projects at Abydos and the Utah Point Yard 2 expansion are progressing on time and on budget. Abydos mine commissioning will commence early in the new financial year while the parallel commissioning of the new facilities at Utah Point stockyard 2 will facilitate shipments from the expanded production base of approximately 10Mtpa. “Atlas has a proven ability to develop highly competitive mining operations with low capital and operating costs,” Mr. Brinsden said. “Our near-term expansion projects are on time and on budget, leading to increased production from the mines matched with expanded port capacity. We are now well on our way to 10Mtpa.”

ON TRACK TO SHIP 2.2MILLION TONNES DURING JUNE QUARTER
Atlas remains on track to ship 2.2Mt in the June 2013 Quarter, inclusive of 2.0Mt of Standard product and approximately 200,000t of Value Fines, consistent with Atlas’ most recent guidance.

ABYDOS MINE DEVELOPMENT
Atlas remains on track to grow its production capacity to 10Mtpa during the September 2013 Quarter as construction at the new Abydos Mine progresses on time and on budget. Significant progress has been made in mine development, establishing the crushing and screening plant and developing the new mine access road. Crusher commissioning is expected during July 2013. Abydos will be Atlas’ fourth mine and an important part of the Company’s North Pilbara production portfolio (Horizon 1). Production rates in the range of 2 to 3Mtpa are proposed at the Abydos mine over time. Existing DSO Reserves indicate an initial mine life of up to 6 years. Atlas is confident about the exploration potential at the project and therefore is targeting a mine life of up to 10 years.

UTAH POINT YARD 2
Atlas is well advanced in the development of its expanded port stockyards at Utah Point Yard 2 in Port Hedland. Atlas is developing ‘interim’ facilities to facilitate expanded production from its North Pilbara mines with commissioning of the new stockyard and loading bins from late June 2013. Operations at Yard 2 will be integrated with Atlas’ existing Yard 1 stockyards and shiploading. Atlas is continuing to work through further engineering and feasibility as it assesses the continued development of Yard 2, including the provision of more sophisticated stacking and reclaiming infrastructure to lower overall port handling costs.

Finance Team Update
Atlas advises that Mr. Anton Rohner (previously Chief Financial Officer) has left the Company. Mark Hancock – Executive Director Commercial, who previously had held the CFO role, will take responsibility for the CFO’s duties pending a replacement.