APAC Resources Limited is an investment holding company. The Company operates in two segments: trading of base metals and trading of and investment in listed securities. As of December 31, 2009, the Company had three associates. The two principal associates were Mount Gibson Iron Limited (MGX) and Metals X Limited (MLX). MGX is an iron ore mining company that operated two mines, Tallering Peak and Koolan Island during the year ended December 31, 2009. All of MGX鈥檚 operations are in Western Australia. In addition, MGX holds various exploration tenements. MLX is a tin producer with its operations in western Tasmania. MLX also holds nickel projects at Wingellina in Western Australia. In addition, MLX holds interests in two other resource companies, Westgold Resources Limited (gold) and Aragon Resources Limited (base and precious metals). The third associate is engaged in the business of coal and coke, iron ore and steel product trading. The Company holds 40% of this company.