Iron ore miner Atlas Iron Ltd
(ASX:AGO) has announced a 120% increase in the Wodgina DSO Project reserves to 20.9 million tonnes at 57.7% iron.
The company says production at the project has begun at 2 million tonnes per annum, growing to 3.6 million tonnes per annum in the second half of 2010.
Managing director David Flanagan says the company continues to receive numerous expressions of interest for the product from its Pardoo and Wodgina DSO projects, as evidenced by the two long-term off-take agreements with medium-sized Chinese steel mills announced last week.
The company says it is targeting exports at an annualized rate of 6 million tonnes by the end of 2010, growing 12 million tonnes by 2012.
In fiscal 2009 Atlas Iron posted a loss of $63.14 million.
