Atlas Iron Expands, Despite Volatile Iron Prices

Mining Weekly reported Atlas Iron (ASX:AGO) said on Monday that it would go ahead with its current expansion plans, despite the volatility of iron-ore prices.

As quoted in the market news:

Speaking on a conference call, MD Ken Brinsden said that the Mount Dove and Abydos projects would be developed under nearly “any circumstance” since they were considered globally competitive.

Atlas Iron was targeting a production capacity of ten-million tons by June 2013, when the Abydos project came on-stream, upping capacity to 12-million tons by December that year when the Mount Dove project started production.

Click here to read the full Mining Weekly report.