Inquiry Into the Development of Northern Australia Submission 6

Appendix 10

TATA STEEL CO NSULTING

Provision of Technical A ssistance To East W est Line Parks Pty Ltd Brisbane, Q LD , A ustralia TSC Project Code – PIB2 Project Iron Boom erang – Prefeasibility Report

Tata Steel Consulting P.O. Box 30 Stephenson Street N ew port South W ales N P19 0RB U nited Kingdom

February 2012

CO N TEN TS

1. EXECUTIVE SUMMARY 4 2. OVERVIEW OF PROJECT IRON BOOMERANG 7 3. PURPOSE OF THIS REPORT 8 4. LIST OF ASSUMPTIONS 9 4.1 TECHNICAL & OPERATIONAL ASSUMPTIONS 9 4.1.1 Steel Complex Output 9 4.1.2 Indicative Iron Ore Chemistry 9 4.1.3 Indicative Coal Chemistry 9 4.1.4 Iron Making Production Philosophy 10 4.1.5 Indicative Iron Chemistry 11 4.1.6 Steel Making Philosophy 11 4.1.7 Indicative Steel Chemistry 12 4.1.8 Indicative product Mix 12 4.2 FINANCIAL ASSUMPTIONS 13 4.2.1 Capital Expenditure and Phasing 13 4.2.2 Capital Charges 15 4.2.3 Recurring Major Capital Expenditure 15 4.2.4 Raw Material Costs 15 4.2.5 Delivery of Slab 15 4.2.6 Inflation 16 4.2.7 Depreciation 16 4.2.8 Estimate Accuracy 16 5. TRENDS IN IRON AND STEELMAKING TECHNOLOGY 17 5.1 OPTIONS FOR IRONMAKING 17 5.1.1 Blast Furnace 17 5.1.2 Rotary Hearth Furnace 19 5.1.3 Rotary Kiln 23 5.1.4 HIsmelt 25 5.1.5 Corex/Midrex 28 5.1.6 Finex 30 5.1.7 Natural Gas Based Zero-Reforming HYL Process 31 5.1.8 Coal Based HYL Process 33 5.1.9 Electric Iron Furnace (EIF) 34 5.1.10 Submerged Arc Furnace (SAF) 36 5.1.11 HIsarna 40 5.1.12 Ausmelt 41 5.2 OPTIONS FOR STEELMAKING 41 5.2.1 Electric Arc Furnace 41 5.2.2 Basic Oxygen Steelmaking (BOS) 43 6. MATERIAL FLOW / LOGISTICS WITHIN THE STEEL COMPLEX 44 6.1 RAW MATERIAL HANDLING 44 6.1.1 Incoming rail materials 44 6.1.2 Raw Material Storage Capacity 47 6.2 SINTER PLANT OPERATIONAL PARAMETERS 49 6.3 COKE OVEN OPERATIONAL PARAMETERS 53 6.4 LIME PLANT OPERATIONAL PARAMETERS 55 6.5 AIR SEPARATION PLANT OPERATIONAL PARAMETERS 55 6.6 BLAST FURNACE OPERATIONAL PARAMETERS 56 6.7 HOT METAL TRANSFER TO THE STEEL PLANT 60 6.8 STEEL PLANT OPERATIONAL PARAMETERS 60 6.9 SLAB EXPORT TO THE PORT 68 7. HIGH LEVEL ENERGY BALANCE 70

7.1 ELECTRICAL ENERGY 70 7.2 COKE OVEN GAS 70 7.3 BLAST FURNACE GAS 71 7.4 BOS GAS 71 7.5 TOTAL ENERGY BALANCE 71 7.5 POTENTIAL SURPLUS GAS USAGE 72 7.5.1 Generate Electricity 72 7.5.2 Supply to a Blast Furnace Slag Cement Plant 72 7.5.3 Install additional Cokemaking Capacity 73 7.5.4 Other Potential Energy Saving Areas 73 8. WATER USAGE 75 9. STEEL COMPLEX WORKFORCE LABOUR REQUIREMENTS 76 10. OUTLINE DESCRIPTION OF COST MODEL 82 11. CAPEX ASSUMPTIONS 84 11.1 PLANT AND EQUIPMENT – MAJOR PROCESSES 84 11.1.1 Coke Production 86 11.1.2 Sinter Production 88 11.1.3 Blast Furnace 90 11.1.4 Steelmaking 91 11.1.5 Continuous Casting 92 11.1.6 Alternative Steel plant Design 93 11.2 SUMMARY OF OVERALL CAPEX COST FOR EACH CASE 93 11.2.1 Base case 4.4MTPA plant location at Port in Korea 93 11.2.2 Base case 4.4MTPA plant Sensitivity China 93 11.2.3 Case 1 – 4.4MTPA plant QLD Australia 94 11.2.4 Case 1A – 4.4MTPA plant QLD Australia – Chinese Manufacture 94 11.2.5 Case 2– 8.8MTPA plant QLD Australia 95 11.2.6 Case 2A– 8.8MTPA plant QLD Australia – Chinese Manufacture 95 11.2.7 Case 3– 22MTPA plant QLD Australia 95 11.2.8 Case 3A– 22MTPA plant QLD Australia – Chinese Manufacture 96 12. SUMMARY OF FINANCIAL EVALUATION 97 12.1 BASE CASE - 4.4 MTPA PLANT PORT LOCATION-KOREA. 97 12.2 BASE CASE –SENSITIVITY - 4.4 MTPA PLANT - CHINA 98 12.3 CASE 1 - 4.4 MTPA PLANT -ABBOT POINT, QLD, AUS 99 12.4 CASE 1A - 4.4 MTPA PLANT -ABBOT POINT- CHINESE MANUFACTURE 100 12.5 CASE 2 - 8.8 MTPA PLANT - ABBOT POINT, QLD, AUS 101 12.6 CASE 2A - 8.8 MTPA PLANT - ABBOT POINT – CHINESE MANUFACTURE 103 12.7 CASE 3 - 22 MTPA PLANT - ABBOT POINT, QLD, AUS 104 12.8 CASE 3A - 22 MTPA PLANT - ABBOT POINT – CHINESE MANUFACTURE 106 13. CONCLUSIONS 108 14. RECOMMENDATIONS FOR FURTHER WORK 111

1. EXECU TIVE SU M M A RY

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Ç # ) # (

4.4m tpy China

22m tpy Australia (Chinese Manufacture)

22m tpy Australia

4.4m tpy Korea

8.8m tpy Australia (Chinese Manufacture)

8.8m tpy Australia

4.4m tpy Australia (Chinese Manufacture)

4.4m tpy Australia

$0.00 $50.00 $100.00 $150.00 $200.00 $250.00 $300.00 $350.00 $400.00 $450.00 $500.00 $550.00

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% / ( h # ) ( • L # ) 5 6 = ? ( • [ / # ( L # ) # • L # % # ) # # # ) #( • { # 6 # b) 5 í !% ) (

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3. PURPOSE OF THIS REPORT

Ç { / Ç{/ 9í [t # ( Ç (

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6 (( w) a % { % / # % % (

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4. LIST O F A SSU M PTION S

L tC % Ç{/ % ) ) # 6 C { (

4.1 TECHNICAL & OPERATIONAL ASSUM PTIONS

4.1.1 Steel Com plex O utput L # ) **aÇt! 5 9í [t C ) (

4.1.2 Indicative Iron O re Chem istry L Ç{/ ) % ( C ) % ) # I # ! %

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Y*h ;(;.7 ;(;.4

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Ç h* ;(;4/ ;(;E

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4.1.3 Indicative Coal Chem istry { L 6 #% ) / (

L < ë *D(. ! E(E* t ;(;DD { ;(;:7 a 0(/

4.1.4 Iron M aking Production Philosophy L ) ( í # # tL. # ( Ç { :(.(

Ç . C # A • b # ) . C w % • b # # . C ** (

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L .; ) #% # )

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) DDE1 ÇIa # 4EE1ÇIa(

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1 (

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4.1.5 Indicative Iron Chem istry L 6 { t ) ( Ç ) A

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4.1.6 Steel M aking Philosophy Ç ) 6 { t ) ( Ç 6 6 5 { ( ! ) % % ! ) ( Ç { ) . h5 .hC :(*(

í { % # [ ë 5 ) .hC ( 11

í ) % ) # • % • % • % •

Ç # # A • ) % • # # • . (

4.1.7 Indicative Steel Chem istry ! ) ) { t ( C { A • [ 6 • { 6 • ! • { • L # /!t9ó ht9ó #

C 5 ) % {*/: ) ) % # 5

/ { a t { b / b ë Ç ;(*. .(: ;(;D: ;(;D: ;(;.* ;(:: ;(;: ;(.D ;(;:

4.1.8 Indicative product M ix L { t 5% % ) % ) A

{ 5 í Ü { í [ [ í Ç Çt! ! " # $%

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&&(%%%(%%%

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4.2 FINANCIAL ASSUM PTIONS 4.2.1 Capital Expenditure and Phasing / / # Ç{/> ) 13

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4.2.6 Inflation L ) ( b ) % % ) % (

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4.2.8 Estim ate A ccuracy Ç ) P1 *:<(

5. TREN D S IN IRO N A N D STEELM A KING TECH N O LO G Y

5.1 OPTIONS FOR IRONM AKING Ç % ) tL. ) ( Ç A

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Bosh Tuyeres Hearth Taphole

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Country Company Location/ Works Plant Manufacturer Start Process Type Of Ore Reduction Product: Nominal Status Up Medium: Type Capacity

Japan Aichi Steel Chita, Nagoya Operating NSC Const. Div., 2008 RHF EAF Dust Pulverized Sponge Iron 10 Corp Jp Coal Japan Kobe Steel Kakogawa, Operating Kobe Steel, Jp 2001 Fastmet® Mill Scale Fuel Oil Sponge Iron 16 Hyogo Tailings Japan Nippon Kinuura Operating Nippon Steel, Jp 2008 RHF BF/BOF Dust Coal Sponge Iron 200 Metal Ind. Japan Nippon Hirohata, Hyogo Operating Kobe Steel, Jp 2000 Fastmet® BF/BOF Dust Coal Sponge Iron 190 Steel Corp Japan Nippon Hirohata, Hyogo Operating Kobe Steel, Jp 2005 Fastmet® BF/BOF Dust Coal Sponge Iron 190 Steel Corp Japan Nippon Hirohata, Hyogo Operating Kobe Steel, Jp 2008 Fastmet® BF/BOF Dust Coal Sponge Iron 190 Steel Corp Japan Nippon Hirohata, Hyogo Under Kobe Steel, Jp 2011 Fastmet® BF/BOF Dust Coal Hbi 220 Steel Corp Const. Japan Nippon Hikari, Operating NSCConst. Div., 2001 RHF BF/BOF Dust Coal Sponge Iron 28 Steel Corp Yamaguchi Jp Japan Nippon Kimitsu, Chiba Operating Nippon Steel, Jp 2000 RHF BF/BOF Dust Coal Sponge Iron 300 Steel Corp Pellets Japan Nippon Kimitsu, Chiba Operating NSC Const. Div., 2003 RHF BF/BOF Dust Coal Sponge Iron 135 Steel Corp Jp Pellets Japan Nippon Kimitsu, Chiba Operating Nippon Steel, Jp 2008 RHF BF/BOF Dust Coal Sponge Iron 300 Steel Corp South Posco Pohang Operating Nippon Steel, Jp 2009 RHF BF/BOF Dust Coal Sponge Iron 200 Korea Pellets South Posco Gwangyang Operating Nippon Steel, Jp 2009 RHF BF/BOF Dust Coal Sponge Iron 200 Korea Pellets South Posco Gwangyang Operating Nippon Steel, Jp 2009 RHF BF/BOF Dust Coal Sponge Iron 200 Korea Pellets Pr China Maanshan Maanshan-I, Operating Nippon Steel, Jp 2009 RHF BF/BOF Dust Coal Sponge Iron 200 I&S Co Anhui Taiwan China Kaohsiung Operating Nippon Steel, Jp 2008 RHF BF/BOF Dust Coal Sponge Iron 200 Steel Corp United Mesabi Hoyt Lakes, Mn Operating Tenova It,US & 2010 Itmk3® Fine Ore, Pellets Pulverized Iron Nuggets 500 States Nugget Kobe Steel Coal Or Coal Delaware Llc

5.1.3 Rotary Kiln ! # Ç { ) ) (

Ç # # G )

( { 6 ( Ç 23

DO4S G ) # # ( Ç # 6 5 .;.* ( ! G 0;0*< 9!C (

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G 5 (

! # ( Ç ) ( ! # 5 ( / ( Ç ) # G # ( Ç ) ) (

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L # % # % % ( / # # > ) # M 5 ) ( / # #

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) ) # # ( [ ) G 5wL (

Ç % ( 5wL 6 ( ! ( Ç # # ( 5 ) (

L {[1wb ) 1 ( L b) ù {% ) # ( ! ) % % ) % G # ( 5 % ) 5 5 ) ( í # ) # % 24

( { # ) ) # # ) (

5.1.4 H Ism elt ! # ) I { w ë {wë . a % *;;; ) ) A

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C .D O / 5 {

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I ) 5 5 ( Ç 5wL % ) % % # ( Ç %

7:< /h *;< I* /h*% I*h% b*% 5 .;;;Q/% E;;OE:;Q/(

! % ( Ç ( Ç # % ) ) 5 ( Ç # /%:;;OE%:;; W1D( Ç ( Ç 5 # % % % ) (

Ç 5 # / 5 # /;< D;< ( L ) 6 ) ( L % 5 )

( L .:< (

C ) % % ( ! W % .hC % / 5 5 ) ( Ç G T7(D ( ! { { % ) ( Ç % (

Ç # ( Ç # 7;<% { h* !*hD ) 7< # ) ( { ) ) # % % 6 5 (

! W % ) # ( Ç 6 .;O.:< % 6 # ) (

Ç # / 5 5 5 ( . W t ) ) 5 ) # / 5 5 ( ! t 5 ) 29

% W ) (

! ) { {( Ç 5 % # /h*% a 5 (

Ç a 5 ) # { / 5 # a w /

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Ç a 5 5wL ( Ç 5wL

9!C % (

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L tL.% ) ) ) 5 G .%:;;%;;; 1 ) . 4%4;;%;;; 1(

5.1.6 Finex C 5 # # L ) # { ë!L t (

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a # (

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) ) ) 5wL O # O ) (

Ç 5wL %

# # ) (

Ç % 6 % 6 # 6 / 5 (

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Ç 5 9 (

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Current Status t ) { ë!L #

Y .(: ( t ) * (

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5.1.7 N atural G as Based Zero-Reform ing H YL Process Ç Iò[ ) # I ò [ (( I a % a5 ) .0:/(

Ç ù w ùw I ò[ # Ç #Iò[( ! ) ) A

Ç Iò[ # 5 E ( C 1 G G ## (

L 5 ) ) I * % ) (

5 I *% * O 4 #( b ( w ) ) G ) G 5wL (

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6 I.L% ILÇ9atX 9!C I5wL(

Ç G G ##

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5.1.8 Coal Based H YL Process Ç ) ) A

Ç Iò[

Iò[ ) 5 ) I * /h

(

{ # G 5wL% ) 5 5 ;(4 <( { Iò[ %

/h* # ( w ( / h5 (

Ç /h* I *h ( L I *h% /h* { #(

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Ç /h* # ( Ç (

a ! Y b Y b Y Ü ) 6 Y t 5wL 9!C ) #

Ç # b D Iò[ (

5.1.9 Electric Iron Furnace (EIF) Ç 9 L C 5 # # ( Ç ) # .00: a 5 Y { 5wL wIC Y ) { í % W (

Ç 9LC % 5 ( 5wL # # (

L 9!C ) # 5wL ( ! 9LC # ( Ç a 5 ) A

Status of EIF Technology ! # a 5 # .(: 9LC Ü {!% ) # ) t í 5 % [ 5 % t t ( Ç ) 9!C # ! ) ! a [ 5 (

EIF Productivity [ # 9LC # % ) # a 5 .(: *7; 1 ) *:;ë! !/ (

EIF Unit Size & Capital Costs Ç 5 % [ 5 % ) 5 .*: 1( 5 9LC> % ) # t í ) :;; 1(

Capital Costs . a 5 Ü {-.7;1% .*: 1 Ü {-*;a( t # # # 9LC> ) 6 (

Estimated Consumptions Ç wIC9LC ) Lwa! wIC9LC B # Ç w5B Ç L ( Ç) ) A 5wL ) /;< E:< (

Input data and assumptions on the EIF • D;< ) • C

9LC ( • Ç :< Ch ;(0 .4 ( w ) A o !*hD .4 ) <% o /h *7 ) <% o /{ *(: ) <% o ah 0(4 ) <% o a h ;(.D ) <% o { h* *: ) <% o w .E ) < • Ç 4(:< / ;(D< { % ;(D< a ;(;:< {( • 9 .(*: 1DW( 35

Calculated unit consumption rates / wIC P 9LC

E:< /;< E:< I I / h 1 .4DD .4DD .4DD / 1 4*; 4.0 4.E . 1 .E .E .E . [ 1 :. :. :. b bD1 7* 7E 7* 9!C DW1 .(0 *(: D(. í 1 :.0 /;. E/: 9 1 *(D D(* D(0 h í 1 E: E: E:

{ 1 *;: *;: *;: 95 DW1 D(. D(7 D(.

L tL.% ) ) % # ) # ) ) # ) / 51a 5(

Ç ) 6 )

(

5.1.10 Subm erged A rc Furnace (SAF) Ç # # 5( Ç .0;;> # % % % ) (

5wL # # ( ! 5 (( % 6 ) 5wL(

Ç {!C 5 % ) ah . P ah ( / # .: # ) ( Ç {!C ) % % (

h {!C% /h% wIC ) (

Status of SAF Technology Ç {!C> ) % {a{ 5 5 # # :;; # .;; % ) ) ) A

/ / Ç w t aë! 9{[b b) / 00 Cb /ëw5 .G * 5 .*; C/ {! í a .G 40(: // b) w { ! . 5 *E% . 5 D; Ç h O Y w { ! * 5 D7 Ç h O ó tw / D; Ç h O

I ) # ) A

t / Ç w / aë! b) ù { b) ù b (. 70 b (. DD; b (* 70 b (* D;; I # { ! 7D b1 L 5 Ü{! DE b1

Ç I # ) 6 ! a % ) L 5 # %

# # ( I ) # ) {!C> b) ù { bù{ 5wL # ) # # . ( Ç

{!C> ) A

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5 O *7 5 /(7 ) 5 4(7 ( 0;; )

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[ O ) % ( a ) ) ) ) ( h O # ) 7%;;; E%:;; bD1 E:< 0;< /h( Ç 5 ) # aIC (

Ç {!C> bù{ A

SAF Productivity Ç {!C 5wL 6 % # {!C 5 1(

Ç ) {!C> bù{ # 6 # ) D: :; 1% 38

# (

5 ) {!C 6 {a{ 5 # % 5 *7 5 .; ) % ) ::aí ) ) # # 5 E; 1% ) bù{ ) # ) 4Daí D0aí #(

SAF Unit Size & Capital Costs

Unit Size D # {!C E%D;; 1 77; 1 % ) 5 {a{ 5 # # (

Ç {!C> bù{ # 6 DD; D;; 1% ) ) (

Capital Cost ! 77; 1 ..E Ü {51( Ç {a{ 5(

{a{ 5 {!C 77; 1 Z Ü {- /Ea t # # # {!C> ) 6 5 t w (

Estimated Unit Consumptions Ü 6 bù{ ) A

L Ü v 5wL Y1 .%7;; / Y1 .%.4: [ Y1 /; 9 Yí 1 0;; 9 Y1 *(0

{a{ 5 6 ) /;; O E;; í 1 * 1

5.1.11 H Isarna

IL Ü [/h{ # [*7 5 ( Ç 7: 1 Ç {> LW b ) t Ç {> w5B Ç ) I { (

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5.1.12 A usm elt

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Ç O # *:;%;;;1 # (

5.2 OPTIONS FOR STEELM AKING

Ç) # ( Ç A

• 9 ! { 9!C • . h5 { .h{1.hC

5.2.1 Electric A rc Furnace

Ç 9!C # ) .0 ) 5 D;< 4.; a *;.;(

9!C # # 4;

# A

Oxygen Lancing Secondary (ladle) Metallurgy Water Cooled Walls High Power/Long Arc Operation 180min Computer Control Foamy Slag Practice Water Cooled Roof/Oxy-fuel Burners 630 kWh/t Bottom Tap Hole Ladle Furnace (low temperature tapping) 6.5 kg/t EBT (Slag Free) Scrap Preheating High Power Electrical Supply Lance Manipulators Pneumatic Bath Stirring Tap to Tap Time 45 min. Electricity Consumption 358 kWh/t Electrode Consumption 1.5 kg/t 65 70 75 80 85 90 Year a 9!C> # ) A

L Ü t Ç Ç Ç ( 4: ! t .%:;; { í DDE 9 t ) / \ Yí 1 D:E 9 / \ Y1 .(*

\ .;;< (

Ç # 9!C ) .C 1 .h{ ) A

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Ç # 9!C A

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L 9!C ) tL.% ) 5 5wL { (

5.2.2 Basic O xygen Steelm aking (BO S) Ç .h{ # # ) . / # .0 5 # # [ G% ! % *; ( Ç .h{ ) 5 /;< 00; a *;.;( a .h{ # 6 ) % % # # # 5 4/; 1(

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/ / < I a < { Ç {% W L 0D / ! L B { / 0* E WC9% a W 0: : Y { W 0D / b { W 07 4

I ) ) % ) 5 D<% D< # 6 6 # # (

6. M A TERIAL FLO W / LO G ISTICS W ITH IN TH E STEEL CO M PLEX

. **aÇt! 5% ) #

) 6 ) 5( Ç # # L Ç{/> 5 # 5 (

6.1 RAW M ATERIAL HANDLING L ) ) ) 6 # ) A

Coking Coal Te/yr 11,306,253 Coal Injection Coal Te/Yr 3,266,801 Total Coal Te/Yr 14,573,054 Lump Ore Te/Yr 5,417,383 Fines Te/Yr 27,028,388 Total Ore Te/yr 32,445,770 Limestone Te/yr 8,309,372 Dolomite Te/yr 2,475,788 Total Te Conveyed Te/Yr 57,803,984

L # 6 ) 6 %

# ( Ç A • h # • v G • C • ! • C • C • C • C • C • C # • C

6.1.1 Incom ing rail m aterials C # ) 9í [t% 9í [ ) D;; ) 4 ( Ç ) A

L h / t 1í .;0 7: t 1Ç D*%/;; .0%:;;

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í % % # % # ) # # ( Ç ) Ç ( 45

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6.2 SINTER PLANT OPERATIONAL PARAM ETERS t a ) 5 A

a ! Ç L */%;;;%;;; / .%D*;%;;; [ D%*DD%;;; 5 *%D:;%;;; . [ 44;%;;; v G D:*%;;; h # :EE%;;;

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/ / í a ò . { { b ! ) 5 [ / Ü * aÇ W b{/ h I ù .0/7 7;; : 5 .*; E(* 1 [ W WC9 C I ù .0/D 1 7;: : 5 .*. E(; 1 [ *;;D C ! 5 6 [ .0/. 1 :*: : 5 .;: /(: a .00* { t D) ë!L *;.. 7;; : 5 .*; /(: Y w ba[Y [ G Ü .074 D 5 D.* /(D w b[aY [ G Ü .0/* 1 D 5 D.* /(D *;.. YG ! Ç Ü .0/: 1 D 5 D.* /(* a .00; W b{/ Y I ù .0/. ::; :(: 5 /(* .;; { t D) ë!L .00* 1 40/ 4(: 5 /(. Y *;;0 ..;(:

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L # 6 % 5( í % # ( L ) 5 :(0 aÇ % ) 47;*% ) # 5 0*(

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6.3 COKE OVEN OPERATIONAL PARAM ETERS t a E(/ aÇt! ..(DaÇ ) 6 (

C { / 5% D # ) ) .t ( Ç % ) 5 *(0 (

Ç 7 ) ) 6 * * % ) A

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6.4 LIM E PLANT OPERATIONAL PARAM ETERS t a

% 5 E;;; ) 6 ( h ) [ 6 aG ) ) # E;; (

C { / 5% .; aG

6.5 AIR SEPARATION PLANT OPERATIONAL PARAM ETERS t ) 6 h5 % ! b ( h5 . C :/(7 baD1 ÇIa Z .(*7 5 .;0 baD 1 I a O .: baD1 ÇIa Z D(*. 5 .;E baD 1 .hC { :E baD1 Ç[{ Z .(*7 5 .;0 baD 1 / / 4 baD1 Ç Z 0(; 5 .;/ baD 1 { t .7(E baD1 Ç Z D(70 5 .;E baD 1

Ç h5 6 D(D 5 .;0 baD 1 ) 6 # .*0*E D7: (

! .hC { ;(E baD1 Ç[{ Z *(E 5 .;/ baD 1 / / . baD1 Ç[{ Z *(D 5 .;/ baD 1

Ç ! 6 :(. 5 .;/ baD 1 ) 6 # *4/ D7: ( b / 5 v :; baD1 Ç / Z 4(D 5 .;E baD 1 . C 4D baD1 ÇIa Z 0(4 5 .;E baD 1 I a O D; baD1 ÇIa Z 7(4 5 .;E baD 1 .hC { .: baD1 Ç[{ Z D(4: 5 .;E baD 1 / / ;(.7 baD1 Ç Z D(7 5 .;7 baD 1

Ç b 6 *(D/ 5 .;0 baD 1 ) 6 # E.*; D7: (

. # 6 % 6 6 h5 6 ) 6 # ::E4; Çt5 ! % ) ) # 47E ! D4.;; b ( 55

6.6 BLAST FURNACE OPERATIONAL PARAM ETERS ! 4 % L : % 4(4 (

Ç ) ) ) 4 aÇt!% *4 Ü (

/hÜ bÇwò /hat!bò [h/!ÇLhb1í hwY{ a!bÜ C( ò9!w hC Lbb9w I9!wÇI LbW9/ÇLhb Çht ÇwÇ ÇwÇ 5!L[ò IhÇ bha {Ç!wÇ Ü t ëh[Ü a9 5L!a9Ç9w 59{LD b w!Ç95 a9Ç![ /!t’y 1 w thí 9w twh5 >b aD a aí Ç15!ò YÇ1ò9!w {hÜ ÇI th{/h thI !bD LIL% b { .0E. 1 :7;; .:%7 tÜ [ë( .9[[[9{{ ò9{ *E%7 .47;; :D.; Yhw9! Wt *;.; /h![% ÇhtX% !wa/h t(í Ü wÇI /ILb! WL!bD{Ü ùI!bD WL!D!bD LL% a//% /b *;;0 :E;; .:%/ tÜ[ë( /h![ .9[[[9{{ ò9{ .4;;; :;;; {I!D!bD WL!bD{Ü ÇhtX% D whÜ t t(í Ü wÇI {hÜ ÇI th{/h D í !bD ò!bD 5!ëòa/Y99% .00* 1 ::;; .:%7 tÜ [ë( .9[[[9{{ ò9{ .4%D .4;;; :;;; Yhw9! Ü YA Y I# *;;0 /h![% ÇhtX% L ( !wa/h t(í Ü wÇI W!t!b bLtthb {Ç99[ hLÇ!% YòÜ {IÜ bLtthb {Ç99[% .0/* 1 ://: .:%7 tÜ[ë( /h![ 5hÜ.[9 ò9{ *4%07 .D:;; 4E;; /hwt Wt *;;0 .9[[ b{/ W!t!b bLtthb {Ç99[ hLÇ!% YòÜ {IÜ bLtthb {Ç99[% .0/7 1 ://: .:%7 tÜ[ë( /h![ 5hÜ.[9 ò9{ */%0 .D:;; 4E;; /hwt Wt *;;4 .9[[ b{/ /ILb! .!h{Ç99[ ùI!bWL!bD /LÇò% *;.4 :/;; .:%7 tÜ[ë( /h![ .9[[[9{{ ò9{ .D;;; 47;; ùI!bWL!bD LB { DÜ !bD 5hbD /ILb! .!h{Ç99[ ùI!bWL!bD /LÇò% *;.4 :/;; .:%7 tÜ [ë( /h![ .9[[[9{{ ò9{ .D;;; 47;; ùI!bWL!bD LB { DÜ !bD 5hbD W!t!b bLtthb {Ç99[ YLaLÇ{Ü % /IL.! bLtthb {Ç99[% .0/: :::: .:%: tÜ[ë( /h![ .9[[[9{{ ò9{ .*//; 4:D; /hwt Wt ÇhtX% t(í Ü wÇI /ILb! {IhÜD!bD /!hC9L5 L!b /ILb! *;;0 ::;; .:%: tÜ[ë( /h![ .9[[[9{{ ò9{ 440; WLbDÇ!bD L{[!b5% I9.9L a!bÜ C!/ÇÜ w9w Ü bLÇ95 LB { /ILb! {IhÜ D !bD /!hC9L5 L!b /ILb! *;.; ::;; .:%: tÜ [ë( /h![ .9[[[9{{ ò9{ 440; WLbDÇ!bD L{[!b5% I9.9L a!bÜ C!/ÇÜ w9w Ü bLÇ95 LB { D 9wa!bò ÇIò{{9bYwÜ tt 5Ü L{.Ü wD a!b DII% 59A .00D ::.D .4%0 tÜ[ë( .9[[[9{{ ò9{ .E .*;;; 4D;; {Ç99[ 9Ü wht9 {/Ií 9[D 9wb ! % LÇ /h![% ÇhtX% !D Yã ÇÇb9w t(í Ü wÇI W!t!b bLtthb {Ç99[ b!D hò!% !L/IL bLtthb {Ç99[% .0/0 1 :44D .:%* tÜ[ë( /h![ .9[[[9{{ ò9{ .*;;; 4*:; /hwt Wt *;;/ ÇhtX% t(í Ü wÇI /ILb! í ÜI!b LB{ /h C!bD/I9bDD!bD% *;.4 :*;; .4%E tÜ[ë( /h![ .9[[[9{{ ò9{ 4*;; DÜ !bD óL 57

/ILb! í ÜI!b LB{ /h C!bD/I9bDD!bD% *;.4 :*;; .4%E tÜ[ë( /h![ .9[[[9{{ ò9{ 4*;; DÜ !bD óL W!t!b WC9 {Ç99[ í 9{Ç í hwY{ bYY% Wt .0/D 1 ::;; .:%7 tÜ [ë( /h![ .9[[[9{{ ò9{ *D ..E;; 4.E; CÜ YÜ ò!a! *;;: ÇhtX% t(í Ü wÇI /ILb! .!h{I!b LB{ .!h{I!b% /L{5L% /bA t *;;: 4/4/ .4%: tÜ[ë( /h![ .9[[[9{{ ò9{ ../;; 4.;; /h [Ç5 {I!bD I!L í % [ ( ÇhtX% t(í Ü wÇI W!t!b WC9 {Ç99[ 9!{Ç í hwY{ Y!í !{!YL I( .0// 1 :.:D .: tÜ [ë( .9[[[9{{ ò9{ *4 ..:;; 4;/; /IL.! Lb5(% Wt .00E /h![% ÇhtX% Y!í !{!YL t(í Ü wÇI {Ü aLÇhah W!t!b WC9 {Ç99[ 9!{Ç í hwY{ bYY% Wt .0/0 1 :;;; .4%E tÜ[ë( /h![ .9[[[9{{ ò9{ ..:;; 4;:; Y9LILb *;;4 ÇhtX% t(í Ü wÇI W!t!b {Ü aLÇhah Y!{ILa! LIL% Wt *;;4 :D/; .: tÜ [ë( /h![ .9[[[9{{ ò9{ .0 ..;;; 4;;; a9Ç![ Lb5 ( ÇhtX% t(í Ü wÇI W!t!b {Ü aLÇhah Y!{ILa! .0/7 1 :D/; .: tÜ[ë( /h![ .9[[[9{{ ò9{ .0 ..;;; 4;;; a9Ç![ Lb5 ( *;;/ ÇhtX% t(í Ü wÇI {hÜ ÇI IòÜ b5!L {Ç99[ 5!bD WLb . t!Ü [ í Ü wÇI% *;.; :*:; .4%E tÜ[ë( .9[[[9{{ ò9{ ..7:; 4;;; Yhw9! [Ü /h![% ÇhtX% t(í Ü wÇI t(í Ü wÇI {hÜ ÇI IòÜ b5!L {Ç99[ 5!bD WLb . t!Ü [ í Ü wÇI% *;.; :*:; .4%E tÜ[ë( .9[[[9{{ ò9{ ..7:; 4;;; Yhw9! [Ü /h![% ÇhtX% t(í Ü wÇI t(í Ü wÇI {hÜ ÇI IòÜ b5!L {Ç99[ 5!bD WLb . t!Ü [ í Ü wÇI% *;.D :*:; .4%E tÜ[ë( .9[[[9{{ ò9{ ..7:; 4;;; Yhw9! [Ü /h![% ÇhtX% t(í Ü wÇI t(í Ü wÇI /ILb! .!h{I!b LB{ .!h{I!b% bLtthb {Ç99[% .0E: 1 4077 .4%7 tÜ [ë( /h![ .9[[[9{{ ò9{ ..:;; 4;;; /h [Ç5 {I!bD I!L Wt *;;E ÇhtX% t(í Ü wÇI

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6.7 HOT M ETAL TRANSFER TO THE STEEL PLANT C #% ..EE 6 % ) 4 D;; ( Ç ) * * = ? ( . % ) ) *E; .7 5 # 5 ) # D7 (

a G /: ) * ) 5 ..:; (

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6.8 STEEL PLANT OPERATIONAL PARAM ETERS { 6 6 ) 5 *DaÇt!( L 6 ) D .hC ) D .hC # % # /(:aÇt! 6 (

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7.1 ELECTRICAL ENERGY L )

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7.5 TOTAL ENERGY BALANCE C # ) %

) 6 DW A

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Ç # # .7DW1 5 ) # ) *4DW1 6 .00; 5 .% í B . .00E(

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7.5 POTENTIAL SURPLUS GAS USAGE C # .;.%/.;%04* DW # 6 (

L # ) % 5 77< ) # 6 ( Ç # # 7;/;< ) # (

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7.5.3 Install additional Cokem aking Capacity ! * # / ) ) # # (

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8. W ATER USAGE

9 ) L 6 # ) (

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9. STEEL COM PLEX W ORKFORCE LABOUR REQUIREM ENTS

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10. OUTLINE DESCRIPTION OF COST M O DEL

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11. CA PEX A SSU M PTION S

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11.1.2 Sinter Production L { /!t9ó% / h# ( I ) # 0 L % : í 5 # *;;/ *;.; 4 / # *;;E *;.;( L / ) % ) .wL/ í { . 9 % # ( Ç

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11.1.4 Steelm aking L . h5 { 6 % # ) 5 # 5 6 ( 91

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11.1.5 Continuous Casting w ( ! ) V-a.:; *(:aÇt! ( L 6 tL.% ) ) # % M 6 ) # .*(:<(

/ { 9 /!t9ó / h í í í / 5 % 5 % 5 % 5 Y ! / a [ a % L % % [ { / L L B

Y ! ! aÇ Ü {-a Ü {-a Ü {-a Ü {-a . 4(: 4.: 4*: D/* *4. / 1/ . / * 0(; //E /0/ 70E 4:* / D **(; .E7/ .0.D .7/4 .;E:

11.1.6 A lternative Steel plant D esign

Ç ) # { / 6 ) # 4(4 aÇt! { (

C Ç{/ 5 ) 6 / *% 5%

.h{ D # ) D ) 5 ( L ) # / * (

11.2 SUM M ARY OF OVERALL CAPEX COST FOR EACH CASE

11.2.1 Base case 4.4M TPA plant location at Port in Korea Ç /!t9ó ) A

twh W9/Ç /h {Ç{ A /!t9ó - 5 .;;; CLó95 !{{9Ç{ . [ ; * . % B # D0/%EED .;(*< D t B a *%E04%/*D /4(.< 4 í 1Ü 5 4;%;;; .(;<

: Ië 5 .:;%;;; D(E< : ! 5 96 D;7%4;: /(E< / / ; ;< E t 9 ..:%;;; *(0< Çh Ç![ CLó95 !{{9Ç{ '(#%(%$$ .;;(;<

11.2.2 Base case 4.4M TPA plant Sensitivity China Ç /!t9ó ) A

PROJECT COSTS - CAPEX $ x 1000 FIXED ASSETS 93

1 Land 0 2 Building, construction & civil 306,493 11.2% 3 Plant & Machinery 1,971,485 72.2% 4 Water/Utilities Distribution 34,000 1.2%

5 HV Distribution 112,500 4.1% 5 Auxiliary Equipment 227,778 8.3% 7 Contingencies 0 0% 8 Project Engineering 80,000 3.0% TOTAL FIXED ASSETS 2,732,255 100.0%

11.2.3 Case 1 – 4.4M TPA plant Q LD A ustralia Ç /!t9ó ) A

PROJECT COSTS - CAPEX $ x 1000 FIXED ASSETS 1 Land 0 2 Building, construction & civil 405,053 9.5% 3 Plant & Machinery 3,201,023 75.3% 4 Water/Utilities Distribution 40,000 0.9%

5 HV Distribution 150,000 3.5% 5 Auxiliary Equipment 328,548 6.1% 7 Contingencies 0 0% 8 Project Engineering 128,000 3.0% TOTAL FIXED ASSETS 4,252,624 100.0%

11.2.4 Case 1A – 4.4M TPA plant Q LD A ustralia – Chinese M anufacture Ç /!t9ó ) A

PROJECT COSTS - CAPEX $ x 1000 FIXED ASSETS 1 Land 0 2 Building, construction & civil 405,053 10.4% 3 Plant & Machinery 2,869,503 73.7% 4 Water/Utilities Distribution 40,000 1.0%

5 HV Distribution 150,000 3.9% 5 Auxiliary Equipment 308,657 7.9% 7 Contingencies 0 0% 8 Project Engineering 118,000 3.0% TOTAL FIXED ASSETS 3,891,213 100.0%

11.2.5 Case 2– 8.8M TPA plant Q LD A ustralia Ç /!t9ó ) A

PROJECT COSTS - CAPEX $ x 1000 FIXED ASSETS 1 Land 0 2 Building, construction & civil 660,852 8.7% 3 Plant & Machinery 5,937,130 78% 4 Water/Utilities Distribution 62,000 0.8%

5 HV Distribution 240,000 3.2% 5 Auxiliary Equipment 525,515 6.9% 7 Contingencies 0 0% 8 Project Engineering 190,000 2.5% TOTAL FIXED ASSETS 7,615,497 100.0%

11.2.6 Case 2A – 8.8M TPA plant Q LD A ustralia – Chinese M anufacture Ç /!t9ó ) A

PROJECT COSTS - CAPEX $ x 1000 FIXED ASSETS 1 Land 0 2 Building, construction & civil 660,852 9.5% 3 Plant & Machinery 5,303,746 76.5% 4 Water/Utilities Distribution 62,000 0.9%

5 HV Distribution 240,000 3.5% 5 Auxiliary Equipment 493,846 7.1% 7 Contingencies 0 0% 8 Project Engineering 170,000 2.5% TOTAL FIXED ASSETS 6,930,444 100.0%

11.2.7 Case 3– 22M TPA plant Q LD A ustralia Ç /!t9ó ) A

PROJECT COSTS - CAPEX $ x 1000 FIXED ASSETS 1 Land 0 2 Building, construction & civil 1,670,186 9.6% 3 Plant & Machinery 13,673,555 78.6% 4 Water/Utilities Distribution 150,000 0.9%

5 HV Distribution 525,000 3.0% 95

5 Auxiliary Equipment 1,034,504 5.9% 7 Contingencies 0 0% 8 Project Engineering 350,000 2.0% TOTAL FIXED ASSETS 17,403,245 100.0%

11.2.8 Case 3A – 22M TPA plant Q LD A ustralia – Chinese M anufacture Ç /!t9ó ) A

PROJECT COSTS - CAPEX $ x 1000 FIXED ASSETS 1 Land 0 2 Building, construction & civil 1,670,186 10.6% 3 Plant & Machinery 12,101,144 76.9% 4 Water/Utilities Distribution 150,000 1.0%

5 HV Distribution 525,000 3.3% 5 Auxiliary Equipment 971,607 6.2% 7 Contingencies 0 0% 8 Project Engineering 320,000 2.0% TOTAL FIXED ASSETS 15,737,938 100.0%

12. SUM M ARY OF FINANCIAL EVALUATION

12.1 BASE CASE - 4.4 M TPA PLANT PORT LOCATION-KOREA.

Ç Ç{/ # (

Ç C ) { ) ) A

Flow Sheet (Materials) PROJECT IRON BOOMERANG - east west line parks pty ltd. Base Case - 4.4m tpy Slab Plant - South East Asian Port

Year 6

Ores & Fluxes Recycled Materials Sinter Fines 5,405,678tonnes LD Slag 56,599 tonnes Quartzite 70,552tonnes Coke (ex BF screening) 31,489 tonnes Olivine 117,587tonnes Mill Scale 58,667 tonnes Dolomite 495,158tonnes HM Losses + Desulph. Slag (ex BF) 40,291 tonnes Limestone 646,731tonnes BF Dust, Sludges etc. 22,310 tonnes BF Screenings (excl. Coke) 68,275 tonnes 277,629 tonnes

Sinter Plant

Ores & Fluxes 1 x 475m2 strand area m/c Lump Ores 1,037,536tonnes Fluxes 100,182tonnes Sinter Coking Coal 5,879,371 Coke Breeze 2,261,251 tonnes 233,083 tonnes (58% Fe) tonnes

By-Products Coke Ovens Injection Coal Coke Benzole 15,655tonnes 653,360 Blast Furnace 1,474,852 2 batteries Coal Tar 55,662tonnes tonnes 1 x 16m diameter hearth tonnes 100 ovens Sulphur 5,267 tonnes 6,000m3 inner volume Slag Granulated Slag Slag 1,197,827 1,197,827 Granulation Hot Metal tonnes tonnes 4,249,497 tonnes Limestone (95% Fe) Lime Plant 1,015,144 tonnes Lime Lime 441,029 88,191 Steelmaking tonnes Ladle Slag tonnes 2 x 275t vessels 101,069 tonnes

Merchant Scrap LD Slag 86,919 tonnes Sales 140,258 Liquid Steel 202,138 56,599 tonnes Sinter Plant tonnes 4,594,051 tonnes 58,620 tonnes Landfill tonnes (20% Fe) (100% Fe) to Sinter Plant Scale Continuous Caster 58,667 2 x 2-strand tonnes (70% Fe) to Steelmaking Slabs Scrap 4,400,000 135,385 tonnes tonnes

Ç ) ) ) # -4/*(:41Ç Ch. Y (

L ) % # 74< ) (

Breakeven Cost of Sales by Element ($/tonne Slab)

Slab Break Even Price $472.54

By-Products $13.51

Power $10.18

of which:

Capital Cost $121.62

Iron Burden Cost $106.56

Coking & PCI Coals $93.90

Shipping & Distribution $56.25

Labour Costs $14.79

Maintenance, Other O&M $39.51

Purchased Scrap & FerroAlloys $35.99

Other Raw Mat'l & Consumables $11.39

Fluxes & Additions $16.21

$0 $100 $200 $300 $400 $500 $600

12.2 BA SE CA SE –SEN SITIVITY - 4.4 M TPA PLA N T - CH INA

! # % 5 / 6 / ( Ç ) ) ) / % 5 # -4.7(*D 1 Ch. { / % ) -:7(D. Y (

Breakeven Cost of Sales by Element ($/tonne Slab)

Slab Break Even Price $416.23

By-Products $13.51

Power $10.18

of which:

Capital Cost $87.28

Iron Burden Cost $106.56

Coking & PCI Coals $93.90

Shipping & Distribution $51.98

Labour Costs $5.51

Maintenance, Other O&M $31.09

Purchased Scrap & FerroAlloys $35.99

Other Raw Mat'l & Consumables $11.39

Fluxes & Additions $16.21

$0 $50 $100 $150 $200 $250 $300 $350 $400 $450 $500

Ç # A • / / -D4(D4 1 Ç • { 5 -4(*/ 1 Ç • [ / -0(*E 1 Ç • a % h hB a -E(4*1Ç

! Ç{/ ) # # ) # ) A • h

# 6 6 # 6 # # ( Ç

.. ( • [ / # # ) ( Ç % # (

12.3 CASE 1 - 4.4 M TPA PLANT -ABBO T PO INT, Q LD, AUS C ) ) A

Breakeven Cost of Sales by Element ($/tonne Slab)

Slab Break Even Price $514.80

By-Products $13.51

Power $10.18

of which:

Capital Cost $127.54

Iron Burden Cost $99.14

Coking & PCI Coals $86.92

Shipping & Distribution $73.43

Labour Costs $38.78

Maintenance, Other O&M $49.09

Purchased Scrap & FerroAlloys $35.99

Other Raw Mat'l & Consumables $11.39

Fluxes & Additions $16.21

$0 $100 $200 $300 $400 $500 $600

Ç ) í { 6 ) L % # ( L ) ! % # 9í [t *;;E # ) # *;.* ( Ç # Y t # ( Ç .# -4*(*7 1 (

Ç A • I • I • L # • L { Y (

12.4 CASE 1A - 4.4 M TPA PLANT -ABBOT POINT- CHINESE M ANUFACTURE C ) ) A

100

Breakeven Cost of Sales by Element ($/tonne Slab)

Slab Break Even Price $501.24

By-Products $13.51

Power $10.18

Capital Cost $116.98

Iron Burden Cost $99.14

Coking & PCI Coals $86.92

Shipping & Distribution $73.43

Labour Costs $38.78

Maintenance, Other O&M $46.09

Purchased Scrap & FerroAlloys $35.99

Other Raw Mat'l & Consumables $11.39

Fluxes & Additions $16.21

$0 $100 $200 $300 $400 $500 $600

Ç ) # -:;.(*4 1 ) # -.D(:7 1 / (

Ç ) # Y -*E(/;1 (

12.5 CASE 2 - 8.8 M TPA PLANT - ABBO T PO INT, Q LD, AUS

Ç ) ) ) (

101

Flow Sheet (Materials) PROJECT IRON BOOMERANG - east west line parks pty ltd. Case 2 - 8.8m tpy Slab Plant - Abbot Point Smelter Park, QLD

Year 6

Ores & Fluxes Recycled Materials Sinter Fines 10,810,682 tonnes LD Slag 113,197 tonnes Quartzite 141,105 tonnes Coke (ex BF screening) 62,978 tonnes Olivine 235,175 tonnes Mill Scale 117,333 tonnes Dolomite 990,315 tonnes HM Losses + Desulph. Slag (ex BF) 80,581 tonnes Limestone 1,293,462tonnes BF Dust, Sludges etc. 44,620 tonnes BF Screenings (excl. Coke) 136,549 tonnes 555,259 tonnes

Sinter Plant

Ores & Fluxes 2 x 475m2 strand area m/c Lump Ores 2,075,072tonnes Fluxes 200,364tonnes Sinter Coking Coal 11,758,742 Coke Breeze 4,522,501 tonnes 466,166 tonnes (58% Fe) tonnes

By-Products Coke Ovens Injection Coal Coke Benzole 31,310tonnes 1,306,720 Blast Furnace 2,949,704 4 batteries Coal Tar 111,323tonnes tonnes 2 x 16m diameter hearth tonnes 200 ovens Sulphur 10,534tonnes 6,000m3 inner volume Slag Granulated Slag Slag 2,395,654 2,395,654 Granulation Hot Metal tonnes tonnes 8,498,995 tonnes Limestone (95% Fe) Lime Plant 2,030,287 tonnes Lime Lime 882,058 176,381 Steelmaking tonnes Ladle Slag tonnes 4 x 275t vessels 202,138 tonnes

Merchant Scrap LD Slag 173,839 tonnes Sales 280,517 Liquid Steel 404,277 113,197 tonnes Sinter Plant tonnes 9,188,103 tonnes 117,240 tonnes Landfill tonnes (20% Fe) (100% Fe) to Sinter Plant Scale Continuous Caster 117,333 4 x 2-strand tonnes (70% Fe) to Steelmaking Slabs Scrap 8,800,000 270,769 tonnes tonnes

C ) =) ? 6 ) ) A

102

Breakeven Cost of Sales by Element ($/tonne Slab)

Slab Break Even Price $488.77

By-Products $13.51

Power $10.18

of which:

Capital Cost $114.33

Iron Burden Cost $99.14

Coking & PCI Coals $86.92

Shipping & Distribution $73.43

Labour Costs $28.48

Maintenance, Other O&M $46.56

Purchased Scrap & FerroAlloys $35.99

Other Raw Mat'l & Consumables $11.39

Fluxes & Additions $16.21

$0 $100 $200 $300 $400 $500 $600

Ç ) # -*7(;D1 # 6 # 4(4aÇt! ( Ç ) # -.7(*D1 (

12.6 CASE 2A - 8.8 M TPA PLANT - ABBOT POINT – CHINESE M ANUFACTURE

Ç ) ) ) (

103

Breakeven Cost of Sales by Element ($/tonne Slab)

Slab Break Even Price $475.89

By-Products $13.51

Power $10.18

of which:

Capital Cost $104.33

Iron Burden Cost $99.14

Coking & PCI Coals $86.92

Shipping & Distribution $73.43

Labour Costs $28.48

Maintenance, Other O&M $43.68

Purchased Scrap & FerroAlloys $35.99

Other Raw Mat'l & Consumables $11.39

Fluxes & Additions $16.21

$0 $100 $200 $300 $400 $500 $600

Ç ) / ) # ( Ç -4/:(E01 -D(D:1 Y (

12.7 CASE 3 - 22 M TPA PLANT - ABBO T PO INT, Q LD, AUS

C % ) ) ) (

104

Flow Sheet (Materials) PROJECT IRON BOOMERANG - east west line parks pty ltd. Case 3 - 22m tpy Slab Plant - Abbot Point Smelter Park, QLD

Year 6

Ores & Fluxes Recycled Materials Sinter Fines 27,015,709 tonnes LD Slag 282,994 tonnes Quartzite 352,762 tonnes Coke (ex BF screening) 157,445 tonnes Olivine 587,937 tonnes Mill Scale 293,333 tonnes Dolomite 2,475,788 tonnes HM Losses + Desulph. Slag (ex BF) 201,453 tonnes Limestone 3,233,654 tonnes BF Dust, Sludges etc. 111,549 tonnes BF Screenings (excl. Coke) 341,374 tonnes 1,388,146 tonnes

Sinter Plant

Ores & Fluxes 4 x 575m2 strand area m/c Lump Ores 5,187,680 tonnes Fluxes 500,910 tonnes Sinter Coking Coal 29,396,855 Coke Breeze 11,306,253 tonnes 1,165,414 tonnes (58% Fe) tonnes

By-Products Coke Ovens Injection Coal Coke Benzole 78,274 tonnes 3,266,801 Blast Furnace 7,374,259 6 batteries Coal Tar 278,308 tonnes tonnes 5 x 16m diameter hearth tonnes 462 ovens Sulphur 26,335 tonnes 6,000m3 inner volume Slag Granulated Slag Slag 5,989,135 5,989,135 Granulation Hot Metal tonnes tonnes 21,247,487 tonnes Limestone (95% Fe) Lime Plant 5,075,718 tonnes Lime Lime 2,205,145 440,953 Steelmaking tonnes Ladle Slag tonnes 10 x 275t vessels 505,346 tonnes

Merchant Scrap LD Slag 434,597 tonnes Sales 701,292 Liquid Steel 1,010,691 282,994 tonnes Sinter Plant tonnes 22,970,256 tonnes 293,100 tonnes Landfill tonnes (20% Fe) (100% Fe) to Sinter Plant Scale Continuous Caster 293,333 10 x 2-strand tonnes (70% Fe) to Steelmaking Slabs Scrap 22,000,000 676,923 tonnes tonnes

Ç ) # ) ) ) ) (

105

Breakeven Cost of Sales by Element ($/tonne Slab)

Slab Break Even Price $467.18

By-Products $13.51

Power $10.18

of which:

Capital Cost $104.67

Iron Burden Cost $99.14

Coking & PCI Coals $86.92

Shipping & Distribution $73.43

Labour Costs $18.66

Maintenance, Other O&M $44.46

Purchased Scrap & FerroAlloys $35.99

Other Raw Mat'l & Consumables $11.39

Fluxes & Additions $16.21

$0 $100 $200 $300 $400 $500 $600

Ç # -47/(*E -:(*71 Y (

12.8 CASE 3A - 22 M TPA PLANT - ABBOT POINT – CHINESE M ANUFACTURE

Ç # ) ) (

106

Breakeven Cost of Sales by Element ($/tonne Slab)

Slab Break Even Price $454.62

By-Products $13.51

Power $10.18

of which:

Capital Cost $94.94

Iron Burden Cost $99.14

Coking & PCI Coals $86.92

Shipping & Distribution $73.43

Labour Costs $18.66

Maintenance, Other O&M $41.62

Purchased Scrap & FerroAlloys $35.99

Other Raw Mat'l & Consumables $11.39

Fluxes & Additions $16.21

$0 $100 $200 $300 $400 $500 $600

Ç ) / % # -4:4(7*1 ) -./(0*1 Y (

107

13. CO N CLU SION S

Ç # ) # ! ) 4(4aÇt! Y (

Ç ) A • . # ! **aÇt! v [5( -./(0*1 # Ch. Y ) 4(4aÇt! Y ( • Ç # # 5 6 ( Ç # / 4(7DW1 % # .h{ ( • 9 5 .7DW1 % ) .:*;< ) ( • ! # ) tL. =) > ? # % Ç{/ # ;(*: 1 ) # ) ;(: 1 ( • Ç ) # DID ! % ) ( L # # # :;< 6 ( • 5 # ) # DID ) #( ! # ( • h { t ) % # % ) # ) A o 5 o 9 B 6 o {# o {# 5 o a 6 ) / o {# ) # 6 Ü {-.D(E # # : Y ( • L # # ! Y # ) ! 6 Y % # 9í [t *;;/1E # ( Ç -:7(*:1 # # -/D(4D1 ( • í # # # # ) # % # # ! % ( Ç ) % -.4(/01 -.E(771 # ( Ç 108

6 (

Ç # ) # (

4.4m tpy China

22m tpy Australia (Chinese Manufacture)

22m tpy Australia

4.4m tpy Korea

8.8m tpy Australia (Chinese Manufacture)

8.8m tpy Australia

4.4m tpy Australia (Chinese Manufacture)

4.4m tpy Australia

$0.00 $50.00 $100.00 $150.00 $200.00 $250.00 $300.00 $350.00 $400.00 $450.00 $500.00 $550.00

Ç ) ) A

109

{ B / / t [ { B{ t ) C 5 B C 5 ! ! t t h w)h / B / C C t/L / t/L/ { a B a 5 5 h h B h a L . .# .# / / a % a % / / / / .t .t 4(4 / -4.7(*D -.D(:. -.;(.E -E/(*E -.;7(:7 -0D(0; -:.(0E -:(:. -D.(;0 -D:(00 -..(D0 -.7(*. ** ! -4:4(7* -.D(:. -.;(.E -04(04 -00(.4 -E7(0* -/D(4D -.E(77 -4.(7* -D:(00 -..(D0 -.7(*. / a ** ! -47/(.E -.D(:. -.;(.E -.;4(7/ -00(.4 -E7(0* -/D(4D -.E(77 -44(47 -D:(00 -..(D0 -.7(*. 4(4 Y -4/*(:4 -.D(:. -.;(.E -.*.(7* -.;7(:7 -0D(0; -:7(*: -.4(/0 -D0(:. -D:(00 -..(D0 -.7(*. E(E ! -4/:(E0 -.D(:. -.;(.E -.;4(DD -00(.4 -E7(0* -/D(4D -*E(4E -4D(7E -D:(00 -..(D0 -.7(*. / a E(E ! -4EE(// -.D(:. -.;(.E -..4(DD -00(.4 -E7(0* -/D(4D -*E(4E -47(:7 -D:(00 -..(D0 -.7(*. 4(4 ! -:;.(*4 -.D(:. -.;(.E -..7(0E -00(.4 -E7(0* -/D(4D -DE(/E -47(;0 -D:(00 -..(D0 -.7(*. / a 4(4 ! -:.4(E; -.D(:. -.;(.E -.*/(:4 -00(.4 -E7(0* -/D(4D -DE(/E -40(;0 -D:(00 -..(D0 -.7(*.

110

14. RECO M M EN D A TION S FO R FU RTH ER W O RK

L # # ) ) (

• 95 ht9ó ) tL. ( Ç ) % % 5 ) # % 5 9í % • D # # % ) # 9í ( • D { t 5 # 5 ) ( • Ç # ) =5 # ?

( Ç # ) 6 ) G ) # # 6 6 % / ( h # ) ( • L # ) 5 6 = ? ( • [ / # ( L # ) # • L # % # ) # # # ) #( • { # 6 # b) 5 í !% ) (

111