Since listing on the ASX in 2004, Atlas has established a competitive advantage in the iron ore sector by gaining a strategic landholding in under-explored regions of the North Pilbara. These exploration tenements, which had long been ignored by the majors, have so far resulted in the discovery of four key Direct Shipping Ore (DSO) iron ore projects within a 150km radius of Port Hedland.

The strategic value of these projects cannot be underestimated. Their proximity to Australia's largest port has enabled Atlas to commence production quickly at a very low capital cost, without the infrastructure barriers faced by potential producers with orebodies further south. The first operation, Pardoo, shipped its first parcel of ore to China just eight weeks after mining commenced, and continues to successfully deliver ore to port using covered road trains. In comparison, Atlas' competitors in the junior end of the iron ore sector have until recently been battling with a lack of access to infrastructure, which remains vital for any company intending to ship ore to a port.

With Pardoo being the Company's flagship operation since mining started in October 2008, Wodgina, Abydos and Mt Webber will be the second, third and fourth mines operated by Atlas in the Port Hedland area. These four mines will collectively produce 12 million tonnes of iron ore for export by 2012, a remarkable growth story by one of Australia's most active resources companies.

Also in the North Pilbara, Atlas has a world-class asset in the Ridley Magnetite Project, which is situated on the Pardoo mining leases. With a resource of 2 Billion tonnes and a reserve of 970 million tonnes, Ridley has the potential for a mine life of over 30 years producing high quality concentrate for export.

 North Pilbara - principal project locations.