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Australia's Atlas says clear to start iron ore mine

Sun Oct 19, 2008 6:13pm EDT

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SYDNEY, Oct 20 (Reuters) - Atlas Iron Ltd (AGO.AX) has received final government approval to start mining ore from its Pardoo lode in west Australia, it said on Monday.

The mine is located 75 kilometres (45 miles) by road from the port of Port Hedland and will use freighter loading facilities owned by fellow Australian firm Fortescue Metals Group Ltd (FMG.AX) under an earlier agreement.

Trading in Atlas, whose shares have dropped 60 percent since Sept. 1 to A$1.10 were removed from voluntary suspension on following announcement, the company also said. (Reporting by James Regan)



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