Incorporating an iron ore pelletising plant, a MIDREX'"' Direct Reduction Plant, and a mini mill, the conversion of iron ore fines to high- quality steel slabs in Western Australia is among the lowest cost routes in the world. The cost and availability of iron ore and natural gas, government support, and proximity to the growing Southeast Asian market all contribute to the competitive position of the area. Owing to the lead-time required, this is an ideal time to develop a new project to supply semi-finished steel to Asia for rolling to a finished product. A project contracted now will start up in about three years, when the market should have recovered.