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ABOUT APIJV

AUSTRALIAN PREMIUM IRON JOINT VENTURE (APIJV)

APIJV is an unincorporated joint venture between Aquila Steel Pty Ltd (Aquila) and AMCI (IO) Pty Ltd. Each company holds a 50% participating interest in the APIJV. APIJV was inaugurated in February 2005 with the objective of developing a long-term iron ore export operation in the Pilbara region of Western Australia. The APIJV is managed by API Management Pty Ltd (APIM) in Perth, Western Australia.

The APIJV controls iron ore rights to a large tenement portfolio across the Pilbara region (approximately 9,000 km2). Some 8,000 km2 is focused in the west Pilbara, in four primary project areas, some accessed by joint venture with other companies.