Annual report 1 January 2011 to 31 December 2011

Abstract

In 2004, Holcim, then CSR Readymix, was preparing the initial stages of an exploration program. An assessment of Holcim's then current and future operations identified that the demand for hard rock could be sustained by Holcim's Sunday Creek Quarry, or by the development of the Acacia Hills tenements. Given the proximity of the Sunday Creek Quarry to the Darwin area, it was decided that extraction would continue solely on this site until it depleted, or unless there was a greater demand for the product. The assessment also identified a future project in the proposed construction of a dam for the Darwin region. The dam is to be located adjacent to the Acacia Hills tenements and it is anticipated that Acacia Hills would be the main source of hard rock for this project. Holcim is therefore aiming to retain the tenements with this future project in mind.