Phosphate Australia Limited

Australian Market Report of December 7, 2010 includes: China Magnesium Corporation Limited (ASX:CMC) has commenced upgrade works at the Pingyao Magnesium Project; Augustus Minerals Limited (ASX:AUJ) is to acquire rare metals and heavy rare earths projects in Western Australia; Vital Metals Limited (ASX:VML) is to raise A$2.5 million for Doulnia Gold Project in Burkina Faso; Phosphate Australia Limited (ASX:POZ) has acquired 100% interest in the Earaheedy Basin manganese project in Western Australia.