AUSTPAC RESOURCES N
22 April 2015
AUSTPAC RESOURCES N.L.
ACN 002 264 057
Level 3
62 Pitt Street
SYDNEY NSW 2000
GPO Box 5297
SYDNEY NSW 2001
Telephone: (+61 2) 9252 2599
Facsimile: (+61 2) 9252 8299
Email: [email protected] www.austpacresources.com
NEWCASTLE IRON RECOVERY PLANT PROJECT UPDATE
Austpac is finalizing project funding to complete construction, installation and commissioning and to commence production at the Newcastle Iron Recovery Plant (NIRP).
Discussions in 2014 with a major international company involved in the steel industry regarding this funding, and a positive review of technologies and the NIRP project by their Australian subsidiary, pointed to additional opportunities for the technology worldwide and led to Austpac being introduced to a major Chinese corporation with interests in steel mills.
Meetings that were held in China in late March 2015 to introduce Austpac's acid regeneration and iron recycling process were very well received, and the Chinese company recognised the huge potential to use the technology in China's steel industry. Teleconference calls with this major corporation have progressed and further meetings in China are being arranged for early May 2015.
Following the release of the NIRP Project Update on 1 April 2015, an existing corporate shareholder contacted the Company regarding additional commercial applications in China. The shareholder has connections with the Chinese steel industry and this approach is being advanced.
During the forthcoming Chinese visit, Austpac is also arranging to meet a number of other Chinese companies who are interested in the Company's steel waste recycling technology.
Austpac will make further announcements as these initiatives progress. For further information please contact:
Mike Turbott
Managing Director Austpac Resources N.L. Tel (+61-2) 9252-2599
About Austpac Resources N.L. (ASX code: APG)
Austpac Resources N.L. [www.austpacresources.com] is a minerals technology company currently focused on recycling waste chloride solutions and iron oxides produced by steel making to recover hydrochloric acid and iron metal. Austpac's technologies also transform ilmenite into high-grade synthetic rutile, a preferred feedstock for titanium metal and titanium dioxide pigment production. The Company has been listed on the Australian Stock Exchange since 1986.
APG (2015-04-22) - Newcastle Iron Recovery Plant - Project Update.docx