Name of the Project
Corruna Downs iron-ore project.

Location
The project is located 40 km from Atlas Iron’s Mt Webber project, in the Pilbara region of Western Australia.

Project Owner/s
Atlas Iron.

Project Description
The Corunna project has mineral resources of 64.1-million tonnes grading 57.2% iron. The ore reserve is estimated at 21.1-million tonnes grading 57% iron.

A definitive feasibility study (DFS) has shown that the project can potentially deliver four-million tonnes a year of lump and fines direct-shipping iron-ore over an initial mine life of five to six years.

Mining is expected to be undertaken using a proven mining contractor to mine four openpits using conventional drill-and-blast, truck-and-excavator, and load-and-haul methods.

The envisaged processing plant is a semimobile, dry crush and screen plant, typical of those used at other Atlas operations. The plant will produce a minimum of four-million tonnes a year of lump and fines, and be owned and operated by a contractor. The plant, run-of-mine and product yard will be located at the base of the Corunna range.

Product will be hauled from the mine to Utah Point by road train using a haulage contractor. The DFS assumes road trains will travel from the mine to the outskirts of Marble Bar, at which point they will meet the Marble Bar road and continue into port along existing sealed roads.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
The initial capital expenditure, based on a production capacity of up to five-million tonnes a year, is estimated at between A$47-million to A$53-million, including contingency.

Planned Start/End Date
Not stated.

Latest Developments
Atlas Iron has progressed the development of its Corunna Downs iron-ore project, submitting a project proposal to the state’s Environmental Protection Authority.

The proposal covers the development of five openpit operations producing 23.3-million tonnes of iron-ore over a six-year period, at an average rate of about  four-million tonnes a year.

Atlas Iron is expected to clear more than 423.1 ha of native vegetation within the 2 257 ha tenement.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Atlas Iron, tel +61 8 6228 8000, fax +61 8 6228 8999 or email atlas@atlasiron.com.au.