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Australia's fourth largest iron ore producer, looking for Chinese investors

    After 7 years more than 50 times the size of mergers and acquisitions, to enjoy the advantages of low-cost expansion after the fourth-largest iron ore producer in Australia AtlasIron (AGO.AX) began in the largest iron ore consumer market in China looking for investors.

    "Currently, our operating costs are 40-42 per ton FOB price of Australian dollars, the bank 293 million Australian dollars in cash, 30 million added each month in cash flow -4000 million Australian dollars, without any liabilities, financial position is good. "

    April 27, swing chain Atlas DavidFlanagan chairman, said in an exclusive interview: "We now export 50 million tons of hematite month, but we also have first-class magnetite resources looking for magnetite and related infrastructure partners, to reach 65 million tons after expansion of annual production. "

    He referred to world-class magnetite projects, including Bradley items (RidleyProject). The project is the world's largest iron ore output from the Port Hedland Port is only 75 km, with reserves of 4 billion tons prospects,iron chain mineral grade of 68% after the product. Since 2014, the mine can produce 20 million tons annually of high quality magnetite concentrate, the production life of 30 years. The Atlas of the potential magnetite resource's total capacity up to 5.0 billion -60 billion tons.

    DavidFlanagan said Yinleideli project location, "there are many good potential partners interested in it."

    But he declined to disclose the names of Chinese enterprises intent, only that "for all types of enterprises, including steel prices, transportation, infrastructure, ports, finance and other areas in the negotiation of customers."

    In December 2004 set up the Atlas, in the Pilbara region has 26,000 square kilometers of land use rights, in second place. Direct Shipping Ore has proven reserves of DOS 6.5 million tons, and is expected to further improve to 10 million tons.

    Atlas is currently 600 million tons per year of iron ore production, through Port Hedland, all sold to China. End of next year is expected to increase to 12 million tons output by 2015 to 1500 tons.

    DavidFlanagan also told reporters that, compared to its potential competitors may be, Atlas selective transport capacity in the port occupies a strategic advantage.

    A day earlier, Baosteel chairman Xu Lejiang in the "China - Australia Economic and Trade Cooperation Forum" to judge, mine expansion in recent years, a large steel enterprises or non-investment in the upstream steel enterprises are expected to market supply and demand of iron ore, will be soon later reversed.

    In this regard, DavidFlanagan first said: "Mr Xu useful insights, we listened very carefully to his views." But he still insisted that the limited infrastructure and labor resources, the lack of double support force, a lot of mining projects will be delayed launched, supply and demand inflection point and may even delay the arrival.

    "Unknown circumstances in the future, we will choose to continue to develop low-cost, high-quality ore. In the long run, the iron ore market still has great support force to maintain the CIF 100 U.S. dollars / ton level. "he said.

    As BHP Billiton, FMG together in Australia to promote the mining tax is too high to avoid one of the major parties, DavidFlanagan understanding of Chinese buyers after the tax levy for mining, mining companies will further shift the pressure concerns.

    He told reporters: "We have to pay sales tax, stamp duties, license fees, a minimum of 37% of the profit is used to pay tax, mining tax is implemented, this ratio may increase to 45%. At present we are still very active stakeholders to communicate with the government, hoping to increase tax revenue to minimize the negative impact. "

    "At present, the profits of large mining companies with less than 40% of taxes will be lower than the small and medium sized mining companies. So the development process in the future, new obstacles to the development of mining enterprises become larger, while the existing companies will take a more obvious absolute advantage. "he said.

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Zhejiang Pujiang Shenli Chain Co.,Ltd.Professionally manufacture swing chain,iron chain.