AuIron Sells First Pig Iron

RNS Number:5132A
AuIron Energy Ld
15 March 2001





au iron energy



15 March 2001



AUIRON SELLS FIRST PIG IRON



  * Demonstration Plant Performance Better Than expected
  * Another Milestone In The Successful SASE Programme
  * Trial Coal Pit Excavation Begins At Phillipson





AUY today announced that operations at the Whyalla Demonstration Plant
continue to be better than expected.  Trials to establish key operating
performance parameters of post combustion, heat transfer efficiency, operating
temperature, coal and oxygen consumption are progressing well with better than
design performance being obtained in some key areas relevant to commercial
plant feasibility.



A greater supply of oxygen, is planned to become available this week, and the
Company expects to increase operating throughput to well above the design rate
of 2 tonnes per hour of iron ore feed.



The Group has arranged the sale of the first parcel of pig iron of 27 tonnes
to a South Australian foundry.  Details were finalised on March 2, 2001 and
delivery will be made on March 16, 2001.  The sale terms were in line with
market prices.  The sale marks a further successful milestone for the SASE
project.



The contract to excavate the trial coal pit has been awarded and excavation
has begun this week.  The contractor will prepare up to 18,000 tonnes of
Phillipson coal for providing samples for smelting and power generation market
development.  An initial 5,000 tonnes of coal will be extracted for
progressive delivery to the Whyalla Demonstration Plant.  This coal will be
used during May and June in the final operating phase of the demonstration
Plant.



Contracts have been let for dewatering of the trial coal pit ahead of
excavation and this work commenced in February.  Dewatering is proceeding
satisfactorily, on schedule, and at a cost significantly below initial
expectations.







15 March 2001



AuIron Included in S&P ASX 200 Index



AuIron Energy is very pleased to note that Standard & Poors has advised the
ASX this morning that AuIron Energy Limited (AUY) has been added to the S&P/
ASX 200 Index, effective after the close of business on March 30, 2001.



A copy of Standard & Poor's announcement can be obtained from the ASX website.

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