Pig iron
In 1848, three Sydney businessmen had joined a local man in an attempt to exploit the iron resources of the Nattai district, which became the Fitzroy Ironworks. The Fitzroy Ironworks were the first ironworks in Australia, but their story is one of persistent failure over half a century despite numerous and repeated ambitious, entrepreneurial and optimistic attempts. For finished products (cast or rolled), land or water transport to an English port plus sea freight to Sydney were less than the cost of cartage between Mittagong and Sydney. Pig iron, also, could not compete against British iron, mostly brought out as ballast in wool ships.