Atlas Iron Limited: Welcomes Key Decision On Access To BHP Goldsworthy Railway
02.07.2010 | ABN Newswire
10:40 AEST July 2, 2010 ABN Newswire (C) 2004-2010 Asia Business News PL. All Rights Reserved.Perth, Australia (ABN Newswire) - Atlas Iron Limited (ASX: AGO) welcomes the Australian Competition Tribunal's decision to declare BHP Billiton's (ASX: BHP) (PINK: BHPLF) Goldsworthy railway in the Pilbara region of Western Australia, saying the move helped pave the way for opportunities for substantial increases in Atlas' iron ore production.
Atlas' Managing Director David Flanagan said he agreed wholeheartedly with the Tribunal's finding that 'it would not be contrary to the public interest' for third parties to be granted access to the Goldsworthy railway and associated infrastructure.
The Goldsworthy railway is within close proximity to some of Atlas' key iron ore deposits, running directly to Port Hedland, adjacent to existing and planned multi user port infrastructure. While there is still a number of issues to be resolved it will now be seriously considered as a means for transporting ore to Port Hedland.
Atlas' Managing Director David Flanagan said that 'This is another step on the road to shared rail infrastructure which would ultimately support many companies and new long life projects with the potential to create of thousands of new jobs and gain billions of dollars in extra export revenues for the benefit of all Australians.'
About Atlas Iron Limited:
Atlas Iron Ltd. (ASX:AGO) is an emerging producer and active explorer focused on the discovery and development of iron ore projects. With a growing number of high quality iron ore projects and one of the largest landholdings in the Pilbara (8,900km2) located close to infrastructure, the Company has created a successful business by targeting resources and reserves capable of being mined with relatively low capital expenditure.
Contact:
David Flanagan, Managing Director
Atlas Iron Limited
Tel: +61-8-9476-7900
Fax: +61-8-9476-7988
www.atlasiron.com.au