MINECOST SUBSCRIBER REPORT FOR SEPTEMBER
==========================================

Model Updates
-------------------
The following iron ore models have been updated for latest full-year production
and extended to 2005

Alegria
Brockman
Brucutu
Capanema
Carajas
Carol Lake (IOC)
Caue
Channar
Conceicao
El Romeral
Empire
United Taconite (EVTAC)
Fabrica
Fazendao
Feijao
Goldsworthy
Hibbing Taconite
Keewatin
Kiruna
Kudremukh
Los Colorados
Malmberg
Marandoo
Minntac
Minorca
Mt Newman
Mt Wright
Northshore
Paraburdoo
Pico
Robe River
Savage River
Sishen
Tamandua Complex
Tilden
Timbopeba
Mt Tom Price
Wabush
West Angelas
Yandi
Yandicoogina

New Model
-------------
Mining Area C (BHP Billiton)

Cost Curves
------------
The above revisions and new model are incorporated into the revised iron ore costs curves.
These are now complete for 1998-2005.

In accordance with the minecost update policy, if you have downloaded any of these models
in the past three months, you are entitled to the updated model at no extra charge.

See previous reports and updates.
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