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ATLAS IRO : Atlas Iron June 2011 Quarterly ActivitiesReport

JUNE 2011 QUARTERLY REPORT 27 JULY 2011 HIGHLIGHTS FOR THE JUNE 2011 QUARTER

1.465 Mt ore tonnes shipped during the June 2011 quarter, up from 1.390 Mt in the March

2011 quarter

A record 1.515 Mt hauled to port during the June 2011 quarter

A record 598,880 tonnes processed in the month of April 2011

Unaudited notional cash operating costs (FOB, excluding royalties) within stated $40-43/t range for the financial year

$365 million cash on hand at 30 June 2011. $397.5 million cash on hand at 27 July 2011

Wodgina Infrastructure Agreement expanded and extended for up to 12 years

Atlas and FerrAus announce the consolidation of their respective South East Pilbara assets to further generate critical mass for the future development of these projects.

Atlas announces a proposed off-market takeover of FerrAus

Atlas is on target to continue to ship approx 1.5Mt in the September 2011 quarter (6Mtpa)

FIGURE 1: Atlas Iron Limited Pilbara DSO Projects’ Locations

JUNE 2011 QUARTERLY REPORT

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ATLAS IRON LIMITED QUARTERLY REPORT JUNE 2011 INTRODUCTION

Atlas commenced exporting direct shipping grade iron ore from the Pilbara of Western Australia in December 2008. Following the commencement of mining at Wodgina in June 2010, Atlas has now ramped up iron ore exports from 1Mtpa to approximately 6Mtpa. As a consequence, the Company is now generating significant cash flows with further growth to come, as the Company continues to pursue the development of its North Pilbara and South East Pilbara assets. The Company is targeting exports at a rate of 12Mtpa by the end of 2012.

Atlas is working to become a globally significant supplier of steel making raw materials through the discovery and development of low capital cost iron ore projects close to port. With these incremental steps the Company will then develop larger scale, low cost, long life operations. This should deliver significant important strategic options for the company, further value for shareholders and great outcomes for the communities where we operate.

The people who work in our business continue to deliver outstanding results and their efforts are greatly appreciated. With our people, iron ore deposits, infrastructure assets and growth model, Atlas is well positioned to continue its rapid expansion.

Product Key Explorer 2.5.1.0 keygen - mfricke's blog

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