GRANGE RESOURCES LIMITED. — Major Shareholding Notification 2009

Dec 16, 2009

Form 604 Corporations Act 2001
Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme	Grange Resources Limited
ACN/ARSN	009 132 405
1. Details of substantial holder (1) Name ACN/ARSN (if applicable)	Shagang International Holdings Ltd (Shagang) and each of the entities and persons set out in Annexure A (Associates) Not applicable
There was a change in the interests of the substantial holder on The previous notice was given to the company on The previous notice was dated	16/12/2009 23/09/2009 23/09/2009

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

	Previous notice		Present notice
Class of securities (4)	Person's votes	Voting power (5)	Person's votes	Voting power (5)
Ordinary	686,077,278	65.5%	785, 877, 278	68.4% based on 1,149,097,776 ordinary shares on issue at 16 December 2009

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

	IIC, SINCO THE SUBSTANTION HORSE, THE TEXT OF			Class and
Date of change	Person whose relevant interest changed	Nature of change $(6)$	Consideration given in relation to change $(7)$	number of securities affected	Person's votes Affected
16/12/09	Shagang and Associates	Issue of 99,800,000 pursuant a placement of shares at \$0.29 per share	\$28,942,000.00	ORD 99,800,000	99,800,000

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Nature of relevant interest (6)	Class and number of securities	Person's votes
Shagang and Associates	Shagang International Holdings Ltd	Shagang International Holdings Ltd	Relevant interest under subsections 608(1) of the Corporations Act 2001 (Cth)	ORD 465, 151, 278	465, 151, 278
Shagang and Associates	Shagang International (Australia) Pty Ltd	Shagang International (Australia) Pty Ltd	Relevant interest under subsections 608(1) of the Corporations Act 2001 (Cth)	ORD 72,800,000	72,800,000
Shagang and Associates	RGL Holdings Ltd	RGL Holdings Ltd	Relevant interest under subsections 608(1) of the Corporations Act 2001 (Cth)	ORD 155,509,200	155,509,200
Shagang and Associates	Pacific International Co. Pty Ltd	Pacific International Co. Pty Ltd	Relevant interest under subsections 608(1) of the Corporations Act 2001 (Cth)	ORD 90,385,520	90.385.520
Shagang and Associates	Ever Lucky Developments Limited	Ever Lucky Developments Limited	Relevant interest under subsections 608(1) of the Corporations Act 2001 (Cth)	ORD 2,031,280	2.031.280

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable)	Nature of association

6. Addresses

The addresses of persons named in this form are as follows:

Name	Address
Shagang	Jinfeng Town, Zhangjiagang City, Jiangsu Province in the People's Republic of China (Postcode 215626)
RGL Holdings Ltd	23/F, New Poly Plaza, No. 1 Northe Chaoyangmen Street, Dongcheng District, Beijing, People's Republic of China
Pacific International Co. Pty Ltd	Unit 2601, 26F Sino Plaza, 255-257 Gloucester Road, Causeway Bay, Hong Kong

Signature

print name	Gao Feng	capacity	Director
sign here		date	17/12/2009

DIRECTIONS

• If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and
  trustee of an equity trust), the names could be included in an ann $(1)$ members is clearly set out in paragraph 6 of the form.
• See the definition of "associate" in section 9 of the Corporations Act 2001. $(2)$
• See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001. $(3)$
• The voting shares of a company constitute one class unless divided into separate classes. $(4)$
• The person's votes divided by the total votes in the body corporate or scheme multiplied by 100. $(5)$
• Include details of: $(6)$
• any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a
  copy of any document setting out the terms of any relevant agreement, and a statemen $(a)$ arrangement; and
• any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the
  securities to which the relevant interest relates (indicating clearly the $(b)$

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details m $(7)$
• If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown". $(8)$
• Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice. $(9)$

Annexure A

Shagang International Holdings Limited

This is Annexure A of 3 pages referred to in Form 604 "Notice of Change of Interests in Substantial Holder" signed by me and dated 17 December 2009.

sign here

print name Gao Feng

Associates of Shagang International Holdings Ltd.

Evergain International Corporation	Zhangjiagang City Shagang Copper Co., Ltd
Ever Lucky Development Limited	Zhangjiagang City Yong'an Steel Co., Ltd
Fayuan Steel Burden Trade Co., Ltd	Zhangjiagang East Gas-making Corporation
Hade Union (Zhangjiagang City) Petrochemical Industry Co., Ltd	Zhangjiagang Haili-wharf Co., Ltd
Hongrun Real Estate Development Co., Ltd	Zhangjiagang Hengchang Neotype Tignum Co., Ltd
Iron-making of Jiangsu Shagang Group Co., Ltd	Zhangjiagang Hengchang Precision milling Co., Ltd
Jiangsu Runzhong High-tech Corporation	Zhangjiagang Hengle Neotype Tignum Co., Ltd
Jiangsu Shagang Group Co., Ltd	Zhangjiagang Hongchang Gas-making Co., Ltd
Jiangsu Shagang Group Huaigang Special Steel Co., Ltd	Zhangjiagang Hongchang High-speed Wire Co., Ltd
Jiangsu Shagang Group Xinrui Special Steel Co., Ltd	Zhangjiagang Hongchang Pelletzing Co., Ltd
Jiangsu Shagang Group Zhangjiagang Kaihua Press Co., Ltd	Zhangjiagang Hongchang Ship-tearing Co., Ltd
Jiangsu Shagang International Trade Co., Ltd	Zhangjiagang Hongchang Steel-bar Co. Ltd
Jiangsu Yong Steel Group Co., Ltd	Zhangjiagang Hongchang Steel-plate Co., Ltd
Jiangyin City Runde Assets Co., Ltd	Zhangjiagang Hongfa Steel-making Co. Ltd

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Jinde Trade Co., Ltd.

Qianyuan Metal Trade Co., Ltd

Rongde Trade Co., Ltd

Runyuan Stainless Steel Co., Ltd

Shagang (Singapore) Pte Ltd

Shagang Group Living-service Co., Ltd

Shagang International (Hong Kong) Co. Ltd.

Shagang International Holdings Ltd.

Shagang Mining (Australia) Pty Ltd

Shagang International (Australia) Pty Ltd

Shagang Occupation-service & Human resource Development Co., Ltd

Shagang Shipping Co., Ltd

Shagang SouthAsia (Hong Kong) Trading Co., Ltd

Shajing International Trade Co., Ltd

Mr Wenrong Shen

Zhangjiagang City Hongda Transportion Co., Ltd

Zhangjiagang City Huadong Scrap steel Trade Co., Ltd

Zhangjiagang City Pharmaceutical Factory

Zhangjiagang City Scrap Steel Processing & Supplying Company

Associates of RGL Holdings Co Ltd.

Alasan Meng Huaxi Trading Co., Ltd.

Alasan Meng Jinganglian Co., Ltd.

Zhangjiagang Hongxing High-speed Wire Co., Ltd

Zhangjiagang Huasha Autodevelopment Co., Ltd

Zhangjiagang Huasheng Iron-making Co., Ltd

Zhangjiagang Jingde Steel-plate Co., Ltd

Zhangjiagang Posco Stainless Steel Co., Ltd

Zhangjiagang Pusha-wharf Co., Ltd

Zhangjiagang Rongde Stainless-steel Product Co., Ltd

Zhangjiagang Rongsheng Steel-making Co., Ltd

Zhangjiagang Runzhong Steel Co., Ltd

Zhangjiagang Sanhe-Shagang Hightemperature Technology Co., Ltd

Zhangjiagang Shagang Tongxin Galvanized -steel Co., Ltd

Zhangjiagang Shajing Steel Co., Ltd

Zhangjiagang Shajing Wide & heavy Plate Co., Ltd

Zhangjiagang Shatai Steel Co., Ltd

Zhangjiagang Xiaosha Steel Processing Co., Ltd

Zhangjiagang Xingrong Coated Board Co., Ltd

Zhangjiagang Xingrong Iron-making Co., Ltd

Zhangjiagang Yongxin Steel Co., Ltd

RGL International Co., Ltd

Shanghai Jingxi Industry Co., Ltd.

Alasan Meng RGL Industry Development Co., Ltd.	Shanghai Ruixilian Industry Co., Ltd.
Beijing RGL Science Development Co., Ltd.	Shanghai Ruixilian Trading Co., Ltd.
Fujian RGL Trading Co., Ltd.	Shanghai Ruiyelian Industry Co., Ltd.
Fuzhou RL Steel Co., Ltd.	Shenzhen RGL Industry Co., Ltd.
Fuzhou RL Trading Co., Ltd.	Wuhan RGL Industry and Trade Co., Ltd.
Jiaozuo Ruiwang Industry Co., Ltd.	Yiyang Yifeng Road and Bridge Development Co., Ltd.
RGL Group Co., Ltd	Shanghai Huaxi Industry Co., Ltd.

Associates of Pacific International Co Pty Ltd.

Acefair Pacific Limited

Mr Zhenhua You

Eastchoice Pacific Limited

Ever Green Resources Co.,
Limited.(Formerly known as Shagang Mining Co., Ltd.)

Fastlane Limousine Co., Ltd. (Acefair
Pacific Ltd. is 60% shareholder)

Mainway Resources Limited

Mineral Power Limited

Pacific International Business Limited

Pacific International Co., Pty Ltd.

Shanghai Pacific Minerals Limited

Pacific Minerals Investment Limited

Pacific Minerals Limited

Suzhou Metallurgical Resources (Hong
Kong) Company Limited

Mr Cheung (Clement) Ko