Iron Ore Increase In Line With Majors
Australian miner, Atlas Iron, says it expects to achieve an increase in its iron ore of about 90 per cent in its iron ore prices compared to last year’s benchmark prices the company said in a statement on Wednesday. The company says this is in line with pricing outcomes achieved by the iron ore majors.
Atlas also said it is experiencing strong demand for its iron ore, both from existing and potential new customers.
The Perth-based iron ore company also said it aims to start mining at its Wodgina direct shipping ore project late in the second quarter of the 2010 calendar year and to export its first shipment from the project late in the third quarter or early in the fourth.
The upgrade of its Pardoo direct shipping ore project is now complete and it is aiming to ramp up production to 2.4 million tonnes a year from 1.2 million tonnes in the third quarter.
Atlas also expects its merger with Aurox Resources to go ahead. Documents will be despatched to Aurox shareholders in late-April to enable them to vote on the merger by late-May. The Aurox board have recommended acceptance of the bid.
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