In January 2011, Austpac and Kronos Worldwide Inc, a major titanium dioxide pigment producer, agreed in principle on the terms for an investment in Austpac?s Newcastle facilities.
Funds for the construction and commissioning of the Newcastle Iron Recovery Plant will be provided by Kronos.
Commissioning of the Newcastle Iron Recovery Plant will occur in 2011 and Austpac will commence commercial operations recycling steel industry waste.
In November 2010, Austpac completed a 16 hole drilling program to investigate the basement rocks in the western part of E.L. 4521, partly funded by a grant from the Victorian Government.
The balance is narrative and report
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