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Sapangar Port Expansion Expected To Be Completed By October 2027 http://dlvr.it/TTfr2Y
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Sapangar Port Expansion Expected To Be Completed By October 2027 http://dlvr.it/TTfr2Y
ATLAS Iron's Board Approves $146 Million Iron Ore Mine near Port Hedland
The company on Monday said it would immediately start development of its Mt Webber Mine, located about 230km southeast of Port Headland, with operations expected to start in the December quarter of this year.
The mine is expected to produce about three million tonnes of iron ore a year in its initial phase, with the first shipment slated for the June quarter of 2014.
In its second stage of development, it's expected to produce six million tonnes of iron ore per year.
Atlas said the project was expected to cost $146 million, which would be funded from the company's existing cash at bank.
Atlas owns 70 per cent of the Mt Webber project with Altura Mining holding the remaining interest.
Atlas managing director Ken Brinsden says the mine's development will allow the company to reach its target annual production rate of 12 million tonnes by June 2014.
"With our Pardoo, Wodgina and Mount Dove mines in operation, Abydos due to commence in the current quarter and now Mt Webber being developed, Atlas will have delivered five mines in around five years," he said.