high grade ore 14 million tonns, page-38

re: wyndham brian was working yep asia iron and johnson are directly related

BUSINESS

Asia Iron Sets Sights On Processing In WA

By PAUL ARMSTRONG
364 words
26 August 1995
Sydney Morning Herald
35
English
Copyright of John Fairfax Group Pty Ltd

The rush to investigate iron ore processing proposals in Western Australia has gained further momentum with the revelation that prominent mining industry figures, Messrs Brian Johnson, Steven Dean and Terry Strapp, are involved in a fresh feasibility study.

The $1.5-million study, being done under the banner of Asia Iron, is examining the economics of a hot briquetted iron (HBI) plant at Geraldton with an estimated capital cost of $750 million.

Asia Iron managing director Mr John Brodziak said yesterday the first stage of the study would be finished in November and the company was hoping to do metallurgical and engineering work next year.

The proposed plant would produce 1.4 million tonnes of HBI a year for sale to Asian steel mills and would be fed with iron ore from the Mt Gibson tenements.

The Asia Iron plan is one of several iron ore processing plants proposed for WA's Pilbara and mid-west regions, in response to lower gas prices and rapidly changing market conditions.

Australian Securities Commission (ASC) documents list the directors of Asia Iron as Mr Johnson, formerly associated with Portman Mining and Pennant Holdings; Mr Dean, managing director of Camelot Resources and former Normandy Poseidon senior executive; and Mr Brodziak.

Mr Brodziak said Asia Iron was a wholly-owned subsidiary of Resource Equities, an unlisted public company set up under the Federal Government's pooled development fund legislation.

ASC records list Mr Johnson, former Zapopan chief Mr Terry Strapp and Mr John Tarrant as directors of Resource Equities.

Mr Dean said Camelot sold the Mt Gibson tenements to Asia Iron for $100,000 and had a right to buy a 50 per cent stake in Asia Iron when the feasibility study was finished.

Under the deal, Asia Iron was also obliged to spend $1.5 million on the study, he said.

Mr Brodziak said Asia Iron had not decided which particular Asian countries it would target and still had all its options on the table.

The company has also had negotiations with several potential joint-venture partners, though Mr Brodziak declined to say who they were.


Voluntary Disclosure: No Position Sentiment: None