Iron Ore Shares News Atlas Iron (AGO)

Iron Ore Shares News Atlas Iron AGO|ASX AGO StocksAtlas Iron (ASX:AGO) is an emerging iron ore producer and explorer.

With a growing number of high quality iron ore projects and one of the largest landholdings in the lucrative Pilbara region, AGO is now one of the area’s largest iron ore producers.

The company’s significant projects include the Pardoo operation, the Ridley project and the Mt Webber Direct Shipping Ore (DSO) project, in the Pilbara region.

AGO is on target to achieve its growth target of exporting at a rate 12 Mtpa by the end of 2012.

Atlas mapping a deal

AGO made a takeover offer for fellow iron ore miner FerrAus Limited (FRS) on Monday.

The deal trumped an exsiting takeover offer from Hong Kong-based Wah Nam International, launched in November last year.

Wah Nam has failed to gain significant traction on its bid for FRS, and yesterday pulled out of the running for the junior miner, ceding the battle for control to AGO.

FRS and AGO shares both gained ground yesterday, with Wah Nam’s withdrawal paving the way for the iron ore miners to complete their own deal.

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