The Directors of Boulder Group NL (BGD) and Australian Overseas Resources Limited (AOV) are pleased to announce that NSW Premier Bob Carr today will unveil plans to build a A$234million stainless and specialty steel mini mill in Newcastle with Boulder Group NL and Australian Overseas Resources Limited as joint venture partners in the project.
In response to recent misleading newspaper articles, the directors of Boulder Steel Ltd ("Boulder") and Australian Overseas Resources Ltd ("AOV") wish to advise that their Stainless and Specialty Steels Project to be located in the Newcastle/Hunter region is well on track towards financial close and subsequent development.
The joint venture partners have decided to move the project from the "Steel River Project" site in Newcastle to a more suitable location in the Hunter Region where the infrastructure offers significant advantages compared to the Steel River site. Details will soon be announced on the new site.
This further commitment by Siemens represents an extension to the contract announced in June 2001 between Hunter Specialty Steels and Siemens to provide the equipment and control systems for the new Boutique Steel Mill to be constructed in the Hunter Valley. Discussions are continuing with Siemens and other potential consortium members which, when completed, will significantly advance the project and increase its value to Boulder Steel Ltd.
2004 hunter becomes ipswich
2008 ipswich becomes gladstone
more sheep to the slaughter
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