ASX / MEDIA RELEASE Thursday, 22 DECEMBER 2005BENCHMARK...

ASX / MEDIA RELEASE Thursday, 22 DECEMBER 2005
BENCHMARK MANGANESE ORE PRICE UNDERPINS POSITIVE
OUTLOOK FOR CONSMIN.
Consolidated Minerals Limited (ASX: CSM, AIM: CNM, FSE: CMN) said today the publication of the settlement
of the benchmark price for shipments of manganese ore for the 2006/2007 financial year would stabilise the market
and underpinned a strong profit outlook for the Company.
The new benchmark price of US$3.00/dmtu - while off from the extraordinary highs of 2005/2006 - is 33%
higher than the average price of US2.25/dmtu achieved over the last 10 years and confirms the underlying strength
of demand for key commodities from world markets.
Consolidated’s Managing Director, Michael Kiernan, said he welcomed the early settlement of the new benchmark
manganese price which would bring certainty back into the manganese ore market after volatile conditions of the
last six months.
“The high prices achieved in early 2005/06 were clearly unsustainable due to the conditions faced by the
manganese alloy industry. It is our view that future prices can be expected to be maintained at this new level, or
higher, with a price of $3.25 per dmtu being a realistic expectation for the balance of this decade,” Kiernan said.
“The outcome of these price negotiations for 2006/07 has confirmed a strong outlook for our core manganese
business and will reinforce the future strong profitability of ConsMinerals,” he added.
ENDS
Released by: On behalf of:
Jan Hope / Nicholas Read Michael Kiernan, Managing Director
Jan Hope & Partners Consolidated Minerals Limited
Telephone: (+61-8) 9388 1474 Telephone: (+61-8) 9321-3633
www.consminerals.com.au
BACKGROUND INFORMATION
Consolidated Minerals is a diversified, ASX S&P 200 Australian-based resource group (Code: CSM) with a strong
growth focus as a supplier of key raw materials to the world’s steel and stainless steel industries. The Company is
also listed on the Alternative Investment Market (AIM) of the London Stock Exchange (Code: CNM) and the
Frankfurt Stock Exchange (FSE) (Code: CMN).
Consolidated has a sound profit base founded on its successful West Australian manganese operations at the
Woodie Woodie mine in the State’s Pilbara region. Woodie Woodie has a secure position as a reliable supplier of 1
million tonnes per annum of high-grade, low-phosphorous manganese ore to markets in Asia and Europe,
representing a sustainable 10% share of the world market.
The Coobina Chromite Project, also located in the Pilbara region, has increased production to capacity levels of
250,000 tonnes per annum of 42% chromite ore, representing a 2.5% share of the world market.
Consolidated’s nickel operations are located in the world-class Kambalda nickel district of Western Australia and
comprise the 5,000tpa Beta Hunt nickel mine, the nearby East Alpha development project and a portfolio of
advanced exploration and development prospects in one of the world’s premier nickel regions.
Consolidated has announced an accelerated development program at its Kambalda operations designed to bring the
East Alpha project into production during 2006, consolidating a 9-10,000tpa nickel production complex through
combined production from Beta Hunt and East Alpha, while continuing to pursue other exploration and growth
opportunities.
The Company has a strong track record in the successful and cost-effective development and operation of mining
projects. Consolidated is also pursuing a number of growth opportunities including joint ventures and strategic
investments in the carbon steel materials sector. These include a joint venture with Fortescue Metal Group Limited
in iron ore and other strategic investments.