Atlas Iron Limited (AGO) announced it had shipped over one million tonnes of iron ore in its first year of operations at the Pardoo Direct Shipping Ore project in the Pilbara. The company said the performance confirmed it was achieving all of its key production and operating targets. Atlas Iron has shipped the ore through Fortescue Metals Group Limited’s (FMG) Port Hedland port facility.
Aditya Birla Minerals Limited (ABY) said its subsidiary, Birla Maroochydore Pty Ltd has acquired the remaining 50% interest in the Maroochydore Copper Project in Western Australia from its joint venture partners Forte Energy NL (FTE) and Renison Bell Ltd. Aditya Birla said it would be required to make a cash payment of $2 million and release the JV partners from any current or future obligations under the JV agreement. The agreement remains subject to obtaining Ministerial consent and completion of a formal sale agreement, with settlement expected before the end of December 2009.
Talisman Mining Limited (TLM) announced that it had reached an agreement to acquire the Halloween Copper-Gold Project from private prospectors Mr Max Pedri and Mr Keith Scudds, therefore further expanding its copper-gold exploration portfolio in Western Australia’s Bryah Basin. The company said the acquisition of the tenement would include the payment of $300,000 in cash and $100,000 in Talisman shares. Talisman said the project is located approximately 11.5km west of Talisman’s 100%-owned Springfield Copper-Gold Project. The company added that should it reach a decision to mine on the Tenement within five years, it would make a further payment to the vendors of an additional $100,000 in cash or Talisman shares.
Fortescue Metals Group Limited (FMG) announced an increase of iron ore resources at its Firetail prospect from 125 million tonnes previously to a new estimate totals 300Mt. The company said the new estimate includes both Indicated and Inferred Resources of 120Mt and 180Mt respectively. Fortescue said the resource is mainly composed of bedded Brockman ores, with drilling at the deposit continuing to further extend the resource with a target of 500 to 600 Mt in total. The company said the overall Solomon Hub Resource now stands at 2.4 billion tones.
