The Board established a Risk Management Committee during the year ended 30 June 2007.

The Risk Management Committee’s powers and responsibilities are governed by a formal charter.< Charter - Risk Managerment Committee>

The Risk Management Committee monitors the operational, financial, environmental and safety risks that face the Company. The Committee considers the recommendations and advice of external auditors and other external advisers on the management of these risks. The Committee also approves environmental and safety management policies that have been implemented to mitigate against these risks.

Current members of the Risk Management Committee are W Killinger (Chairman), R Valliant, and A Snowden.

Senior executives are also invited to participate in meetings of the Risk Management Committee, as appropriate.