Government established and financed the NZ Steel Investigating Co in 1960. Its investigations showed that a steel industry was feasible and desirable based uponNorth Island titanomagnetite ironsands, and charted a route for its establishment. The initial processing used post-1945 preheating and prereduction developments, but later innovative improvements created what was essentially a new New Zealand technology. Of the North Island titanomagnetite deposits: the small ones at Waipipi were best made available for export; those at Kawhia and Taharoa were too remote for the economic siting of a mill; that at Raglan proved too small; while at Waikato North Head three times the requirement of 50 million tons of concentrate were located in two sand areas averaging 18 per cent titanomagnetite. Economic studies showed that a South Auckland site would be ideal, close to New Zealand's biggest market. The mill site, on a basalt flow at Glenbrook, was located by a half-day's fieldwork - near both the Waikato North Head deposit, and a railhead for bringing in Waikato coal, etc, and taking out steel products.
This development was one of several since World War II which altered significantly the lives and homes of New Zealanders (others were natural gas, oil, geothermal power, epithermal gold, aluminium, opencastable lignite, etc). All had the essential ingredients of the highest government backing, direct or indirect government finance, and first-class New Zealand scientific and engineering skills (eg to create new technologies). Not one such project failed.