Port access enough: Atlas Iron

Atlas Iron Ltd says it has enough port access deals to keep exports going via an agreement with Fortescue Metals Group Ltd, and a plan to use a shared-access berth at Port Hedland in Western Australia.

"Atlas Iron ... has today reconfirmed with Fortescue ... that it has access to FMG's Port Hedland port facility for Atlas' Pardoo direct shipping ore project until 20 June 2010 and until the Utah Point public access berth is commissioned on a reasonable best endeavours basis," Atlas said in a statement on Monday.

Atlas signed a port access agreement with Fortescue in August 2008.

A post on an investor forum last week suggested Atlas' port access deal with Fortescue had ceased, but further discussion was moderated by the website operator as it appeared to be no more than a rumour.

After the announcement, Atlas shares emerged from a trading halt entered into earlier on Monday and by 1513 AEDT, had risen 5.5 cents, or 2.98 per cent, to $1.90.

Fortescue shares were up 19 cents, or 4.74 per cent, at $4.20.

(The writer of this article holds shares in Atlas Iron)