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    Processing Agreement
    with Sims Aluminium

    ASX Release 24 December 2009

    ● Processing agreement signed with Sims Aluminium Pty Ltd
    ● Agreement provides for the processing of a range of materials including Aluminium Salt Slag, Aluminium Non-Salt Slag and Aluminium Dross
    ● Processing to commence immediately upon completion of Aluminium Project acquisition, anticipated to be no later than 15 January 2010
    ● Satisfies final key Conditions Precedent to completion of the Aluminium Project acquisition, settlement to occur upon transfer of EPA licenses and employee contracts
    ● Continuing discussions between the parties for the processing of additional materials
    ● Contract has the potential to generate substantial revenues in addition to those of the Alcoa processing agreement and Salt Slag Landfill reprocessing agreement that have already been negotiated

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