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The Group retains a 20% direct interest in Core Resources Pty Ltd , a private Australian based resource group, direct owner of coal interests in Australia including the Vasse coal project in Western Australia. Core also operates a metallurgical laboratory business, and acts as agent on behalf of Xstrata and Highlands Pacific for marketing the Albion process, a technology for use in recovery of base and precious metals from complex or refractory ores. Core also takes mineral development interests in its own name, where the Albion technology may be utilised.
In addition, the Group has a joint venture with Core Resources to explore for new coal deposits in Queensland, and a number of exploration programs are being advanced to seek significant new coal deposits.
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