Iron ore miner Atlas Iron Ltd
(ASX:AGO) has won final government approval for its Wodgina DSO Iron Ore Project in Western Australia, to allow the commencement of mining.
The miner says it is now on target to achieve iron ore exports at a combined rate of 6 million tonnes a year from its Wodgina and Pardoo DSO mines in WA by December 2010.
Managing director David Flanagan says to take a project from an iron ore discovery to an iron ore mine in less than 18 months is simply remarkable.
Mr Flanagan says Atlas is now well positioned to benefit from very strong demand, high iron ore prices moving forward, and to meet its target export rate of 6 million tonnes per annum by the end of this calendar year.
Atlas also says drilling has commenced at the Wodgina North iron ore prospect.
The miner says Wodgina North has a previously reported exploration target of 20 to 40 million tonnes at 57 - 60% iron ore.
Just yesterday Atlas launched a $63.5 million capital raising to fund a substantial increase in production and shipments in the second half of this calendar year.
Atlas Iron reported a $63.14 million loss in financial year 2009.
