Australian Bauxite Ltd (ASX:ABX) Bauxite Sales and New Opportunities Continue Grow
Fertiliser-grade bauxite sales are naturally seasonal and weather-sensitive but ABx has secured a sale of some 3,585 tonnes to date, with a further 1,500 tonnes to be dispatched to the customer before year-end.
ABx has 90 tonnes of cement-grade bauxite undergoing testwork by a new customer with a planned large shipment of cement-grade bauxite scheduled for year-end. The mine product stockpile is currently 18,400 tonnes and growing daily for this cargo.
The sale prices achieved for all sales is satisfactorily profitable and commercial-in-confidence.
New Customers In Discussions & Signs of Growth
ABx is progressing with two joint offers with its more experienced marketing partner, RawMin to jointly ship large tonnages into both the Middle East and European markets for up to five years.
ABx has also been approached by several large international cement manufacturers seeking bauxite with grades tailored to their specific needs.
ABx's CEO Ian Levy commented; "As the Chinese market for metallurgical bauxite remains subdued, the cement and fertiliser markets are growing strongly.
"ABx's recent announcement of a 5-fold increase in the resource tonnages at its Fingal Rail Project to 6.3 million tonnes shows that ABx can enter into long-term contracts with major cement-grade customers.
"In recent months, several customers have approached ABx seeking metallurgical-grade bauxite for supply to several countries and ABx will work with Rawmin on these opportunities.
In response to these early signs of a strengthening market, ABx has increased its testing of the TasTech technology that separates ABx's bauxite into its 3 product-components: metallurgical-grade, cement-grade and fertiliser-grade bauxite. Once the robustness of TasTech technology is confirmed, ABx will commence large-scale field trials."
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About Australian Bauxite Ltd:
Australian Bauxite Ltd. (ABx) (ASX:ABX) has started its first bauxite mine in Tasmania and holds the core of the Eastern Australian Bauxite Province. ABx's 37 bauxite tenements in Queensland, New South Wales and Tasmania exceed 5,000 km2 and were rigorously selected for (1) good quality bauxite; (2) near infrastructure connected to export ports; and (3) free of socio-environmental constraints. All tenements are 100% owned, unencumbered & free of third-party royalties.
ABx's discovery rate is increasing as knowledge, technology and expertise grows.
The Company's bauxite is high quality gibbsite trihydrate (THA) bauxite and can be processed into alumina at low temperature.
ABx has declared large Mineral Resources at Inverell and Guyra in northern NSW, Taralga in southern NSW, Binjour in central QLD and in Tasmania confirming that ABx has discovered significant bauxite deposits including some of outstandingly high quality.
In Tasmania, at Bald Hill, the Company's first bauxite mine commenced operations on schedule on 9 December 2014 – the first new Australian bauxite mine for more than 35 years.
ABx aspires to identify large bauxite resources in the Eastern Australian Bauxite Province, which is emerging as a globally significant bauxite province. ABx has created significant bauxite developments in 3 states - Queensland, New South Wales and Tasmania. Its bauxite deposits are favourably located for direct shipping of bauxite to both local and export customers.
ABx endorses best practices on agricultural land, strives to leave land and environment better than we find it. We only operate where welcomed.
Source:
Australian Bauxite Ltd.
Contact:
Ian Levy CEO and MD Australian Bauxite Ltd. T: +61-2-9251-7177 E: corporate@australianbauxite.com.au
