IRON ORE MINING — ATLAS IRON Statement by Minister for Mines and Petroleum MR W.R

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IRON ORE MINING — ATLAS IRON Statement by Minister for Mines and Petroleum MR W.R

Extract from Hansard [ASSEMBLY — Thursday, 17 October 2013] p5147b-5147b Mr Bill Marmion IRON ORE MINING — ATLAS IRON Statement by Minister for Mines and Petroleum MR W.R. MARMION (Nedlands — Minister for Mines and Petroleum) [9.05 am]: Iron ore is the state’s highest value commodity. In 2012 it accounted for $51 billion, 70 per cent of all mineral and energy sales, and 53 per cent of all sales, indicating how important this commodity is to the state. New and expanded iron ore mines lifted iron ore production quantity by 12 per cent to a record 476 million tonnes last year. I am pleased to see that this sector continues to grow. On Wednesday, 9 October I had the pleasure to open Western Australia’s newest iron ore mine, called Abydos. The Abydos mine site is Atlas Iron’s fourth mine site, located 130 kilometres south east of Port Hedland. Atlas Iron opened its Pardoo mine in 2008, its Wodgina mine in 2010 and the Mt Dove mine in 2011. Production from these mines last year was 6.2 million tonnes of iron ore. The Abydos site was commissioned in July this year and the first iron ore was hauled on 23 August. The resource is 24.8 million tonnes of 57 per cent iron, and should have a mine life of six to 10 years. The Abydos mine will add to production in 2013, with a forecast rate of production of two to three million tonnes per annum. I was also fortunate enough to visit the site of Atlas Iron’s Mt Webber mine, which will become Atlas Iron’s fifth mine when it commences mining next year. Mt Webber will lift Atlas Iron’s production to an estimated 12 million tonnes per year, with a target of 15 million tonnes across all five mines by late 2015. It takes a great deal of planning and hard work to develop a mine. All those involved should be congratulated. Over the next decade, the Abydos mine will make an important contribution to a sector that is fundamentally linked to the success of the Western Australian economy. [1] .

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Atlas Iron Limited 67
David Flanagan Atlas Iron Limited 67 ASX Small to Mid Caps Conference Hong Kong 2008 Disclaimer This presentation has been prepared by Atlas Iron Limited (“Atlas” or the “Company”). It should not be considered as an offer or invitation to subscribe for or purchase any securities in the Company or as an inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for securities in the Company will be entered into on the basis of this presentation. This presentation contains forecasts and forward looking information. Such forecasts, projections and information are not a guarantee of future performance, involve unknown risks and uncertainties. Actual results and developments will almost certainly differ materially from those expressed or implied. There are a number of risks, both specific to Atlas and of a general nature which may affect the future operating and financial performance of Atlas and the value of an investment in Atlas including and not limited to economic conditions, stock market fluctuations, iron ore demand and price movements, timing of access to infrastructure, timing of environmental approvals, regulatory risks, operational risks, reliance on key personnel, reserve and resource estimations, native title and title risks, foreign currency fluctuations, and mining development, construction and commissioning risk. You should not act or refrain from acting in reliance on this presentation material. This overview of Atlas does not purport to be all inclusive or to contain all information which its recipients may require in order to make an informed assessment of the Company’s prospects. You should conduct your own investigation and perform your own analysis in order to satisfy yourself as to the accuracy and completeness of the information, statements and opinions contained in this presentation before making any investment decision.
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