Business Summary

Grange Resources Limited is an Australia-based company, which owns and operates an integrated iron ore mining and pellet production business, located in the northwest region of Tasmania. The principal activities of the Company consist of the mining, processing and sale of iron ore; and the ongoing exploration, evaluation and development of mineral resources. Its projects include Savage River, Port Latta and Southdown. The Savage River project is a magnetite iron ore mine, which is located approximately 100 kilometers (km) southwest of the city of Burnie. The Port Latta project is located approximately 70 km northwest of Burnie is Grange Resources' 100%-owned pellet plant and port facility at Port Latta, which produces approximately 2.2 million tons of premium quality iron ore products annually. The Southdown project is located approximately 90 km from Albany in Western Australia's Great Southern region, Southdown is a joint venture between Grange (70%) and SRT Australia Pty Ltd (30%).