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Overwhelming support for Koolanooka/Blue Hills project

MEDIA RELEASE
7 July 2009

Sinosteel Midwest Corporation is pleased to announce that 144 appeals in support of full approval of its Koolanooka/Blue Hill (Mungada) Direct Shipping Ore (DSO) Project have been received by the Appeals Convenor.

Of the 148 appeals received, only three appeals were made against the project and one appeal related to a nearby project. This amounts to approximately 97% of appellants in support of full approval of Sinosteel Midwest's Koolanooka/Blue Hills project.

Sinosteel Midwest Chief Operating Officer Giulio Casello said the company is extremely pleased with this overwhelming result.

"We would like to extend our sincere thanks to members of the community, local business owners, industry representative bodies and local councils and government who have gone to the effort of putting in an appeal," Mr Casello said.

The 148 appeals were lodged during the recent 14 day appeals period followed the release of the EPA's Report on Sinosteel Midwest's Koolanooka/Blue Hills Project. The EPA failed to recommend the Mungada East portion of the proposal for Ministerial approval, and without full approval the project can not proceed economically.

"It is very reassuring to see the community support that we have witnessed over the four years we have been working in the Mid West region turn into action when it most counts," Mr Casello said.

"While most projects receive between one and ten appeals during this process, I'm sure this result is one of the most positive ever seen and it is a strong reflection on the community's desire to see this important project go ahead in a timely manner.

"We are certain the huge number of positive appeals will give the Appeals Convenor and the Minister for Environment a clear view of the overwhelming support for this environmentally sound proposal," he said.

"We would like to thank everyone for their input into this crucial process, and now it is important we give the Appeals Convenor the time and space he needs to consider the appeals received." All 148 appeals will now be reviewed by the Appeals Convenor and his recommendation will then be referred to the Minister for Environment for consideration.

ENDS

For more information contact:

Warrick Hazeldine Caroline Thomson
Purple Communications Purple Communications
P: 08 6314 6300 P: 08 6314 6300
M: 0417 944 616 M: 0410 479 489
E: whazeldine@purplecom.com.au E: cthomson@purplecom.com.au

About Sinosteel Midwest Corporation Limited

Sinosteel Midwest Corporation (Sinosteel Midwest) is developing iron ore and steel materials projects from one of the largest land holdings in the expanding Mid West resources region of WA. It has advanced production opportunities for iron ore at Koolanooka, Weld Range, Jack Hills and Robinson Range.

Sinosteel Corporation, one of China's biggest suppliers of raw materials to Chinese steel mills, purchased Midwest Corporation in 2008. It is committed to the responsible and sustainable development of Sinosteel Midwest's assets.

Phase one of Sinosteel Midwest's development is the Koolanooka/Blue Hills (Mungada) Project (Koolanooka and Mungada sites) which will produce a minimum of 5.8 million tonnes over a period of five years – phase two – the Weld Range project ‐ is expected to produce 15 million tonnes per annum and will be a cornerstone project to export out of the proposed Oakajee Port.

The Koolanooka/Blue Hills Project is currently going through the final stages of pre‐mining environmental approval, and has been in the environmental approval process since September 2006.

Sinosteel Midwest possesses the capital, resources, technical skills and the people to play a major role in the development of the Mid West region, and is positioned to continue doing so actively now, notwithstanding the global financial crisis. Sinosteel Midwest continues to actively develop and explore the potential of its deposits and the outlook for the Company is exciting.

www.sinosteelmidwest.com.au

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