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Swanbank Paper threatens to fly south to Tasmania

Thursday, 23 November 2006
By Print21

The company maintains it is still progressing its discussions with the Government
over its proposed paper mill at Swanbank, near Ipswich, and is on track to lodge its
application for development approval during the first quarter of 2007.

The company has confirmed that the project, which it clams retains strong support from Australian and international paper industry participants, remains “live” before the Ipswich City Council.

However, Chairman of the Board, John Reynolds, has advised that the company is also considering alternative locations for the project in southern states, including
Tasmania, in line with the directors’ responsibilities to optimize shareholder returns
on investment.

According to Robert Eastment, director of industry bible, Industry Edge, if the Swanbank paper mill project is to move to Tasmania, then the likely location will be next to the proposed Gunns pulpmill. He estimates the amount of pulp Swanbank could potentially use from the Gunns mill would be a quarter to a half of the production from the pulpmill.

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