Atlas Iron has approved the Corunna Downs project. Production from Corunna Downs will replace tonnages from the depleting Wodgina and Abydos mines which will cease production in the first and second half of 2017, respectively. Construction will take place through 2017 with first ore on ship targeted for the March quarter of 2018. It should ramp up to full capacity of 4 Mtpa by early 2019. Forecast capital expenditure is A$47-A$53 million and will be funded from operating cashflow. Mining, processing and haulage will be undertaken by a contractor.