The head of Atlas Iron Limited
(ASX:AGO) has spoken about the Pilbara focussed-miner's plans to boost production.
Managing director David Flanagan has told the Australian Associated Press that Atlas hopes its proposed takeover of FerrAus Limited
(ASX:FRS) will increase production from 6 million tonnes per annum to 42 million tonnes per annum by the end of 2016.
Last month Atlas offered around $25 million to purchase FerrAus shares in order to boost its stake in the junior miner to 38.3 per cent. The deal is due to be put to a shareholder vote on August 17.
Mr Flanagan also told AAP that Atlas is in talks with parties who have expressed interest in investing into its magnetite iron ore projects.
In the last half of 2010 Atlas Iron posted a net profit of $30.1 million.
