INTERVIEW WITH MIKE TURBOTT, MANAGING DIRECTOR, AND JOHN WINTER, PROCESS AND PLANT MANAGER, OF AUSTPAC RESOURCES NL (APG)

“APG - Applied Technology Award - Mr Mike Turbott, MD and Mr John Winter, Process and Plant Manager”

http://www.brr.com.au/event/51585/

WEDNESDAY, SEPTEMBER 17 2008, 3:15 PM.

            BRR    Good afternoon and welcome to Boardroom Radio. Today, I’m joined by Mike

10                    Turbott, Managing Director, and John Winter, Process and Plant Manager, of Austpac Resources. Thanks for joining today, guys.

            ABG     Well, thanks very much. Good to be here.

            BRR    Last night, Austpac won the Applied Technology Award for 2008 at the

15                    National Mining Awards, Mining in Excellence Conference Dinner. Firstly, congratulations Mike, you must have felt pretty good this morning.

            ABG     Yes. We are certainly pretty happy. The award couldn’t have come at a more exciting time for Austpac. To get this kind of recognition shows the innovation, the dedication and all the hard work put in by the Austpac team. After 15

20                    months of planning and construction, the Newcastle plant is finally in the commissioning stage. We’ll be producing synrutile and iron within days. The award is a great way to start what will be a huge month for us and it validates our belief in our technologies. I guess I certainly want to thank the whole Austpac team, our staff, our contractors, our consultants, our promoters, and

25                    our shareholders. All of whom are believers, mainly for quite a long time. I will hand it to John now.

            BRR    Now, John, you invented many aspects of the now award-winning ERMS SR process. In a nutshell, what does this technology do?

30        ABG     The ERMS SR process produces a high-grade synrutile. This is the preferred feedstock for making titanium metal, but our process does more. It’s not only a synrutile process, but it also produces valuated iron-core product rather than losing this as a money (inaudible) (00:01:38). The ERMS SR process is also completely continuous. We can upgrade any ilmenite using any fuel and we

35                    produce no liquid or solid waste. The ERMS SR process also generates more revenue per a tonne of CO2 emitted as well in comparison to the other synrutile processes. And we also have the ability to capture carbon dioxide in the future. Our technologies can also be used for recycling waste in the steel industry. The ease part of the process can convert mills scale and pickle

40                    liquors into hydrochloric acid and saleable iron units. Last but not the least, our DRI process can convert fine iron ore into DRI. All of these technologies have been incorporated at the demonstration plant here in Newcastle and we are about to show the world how good they are.

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            BRR    So I guess, you’re pretty keen to start showcasing the technologies?

            ABG     Yes, as Mike said last night at the ceremony, we are literally days away from being there. With any new technology, commissioning is a painstaking process, as checking, rechecking and thinking every part of the plan. I’m happy to say that start up has been a dream and we’ll be in production very soon. We used to describe the ERMS SR plant as being years away or month away. It’s finally great to be on the homestretch.

5          BRR    Well, you seem to have a team that’s really behind you.

            ZRL     Yes, we sure do. Our engineers and our staff, the operators and management really believed in the technology. The Newcastle contractors have built a plant behind us. It’s great to work with the team that has the same goal, one that has worked day and night to get there, to get where we are today. They

10                    would ease testimony to the belief and hard work put in by everybody and we couldn’t be happier.

            BRR    John and Mike, thank you very much for your time today. And as we say, we’ve said earlier, congratulations on a well-deserved award. We look

15                    forward to speaking to you soon.

            ABG     Thanks.

            ABG     Thanks, Eddie.

INTERVIEW CONCLUDED

Contact brr@brr.com.au for more information

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