General Industry News, page-174

Pizzaeater - Thanks for posting the link to the presentation on High Grade Iron ore as a Route to Decarbonisation which was presented at the Singapore Iron Ore Forum 2024 held last month.

https://www.youtube.com/watch?v=0iwu_xnbDcM&list=PLNKnhKVK1TqSwkSe8J6qNPHK8P74x7o2T&index=7

I have watched a number of the other presentations available on youtube from the Singapore Iron Ore Forum 2024.

There are a few key themes that seem to keep running through a number of the presentations, being:

• That the whole industry, from mining to production, is thinking about decarbonisation and how to produce low carbon steel;
• That high grade ore is the key to producing low carbon steel;
• That there is expected to be a deficit of high grade iron ore in the coming years.

All of these factors confirm my expectations that a strategic investor/s will take a JV position in Hawsons as there are few new projects with lower than average risk that can produce high grade magnetite ore suitable to produce low carbon steel in an electric arc furnace (all using existing technology and processes). Taking a JV interest will secure supply of a product expected to be in deficit and critical for making low carbon steel.