Australian Bauxite Ltd.: Update on Binjour Project Queensland
Sydney - Australian Bauxite Ltd. (ASX:ABX) (ABx) and its marketing partner, Rawmin Mining and Industries Pvt. Ltd (Rawmin) commenced a review in late May of ABx's bauxite resources around Binjour totalling 28 million tonnes (see resources details in Appendix in the link below). Binjour is located 115kms from the export port of Bundaberg which is similar scale to the port used by Rawmin in India to export its bauxite to long-term customers. ABx and Rawmin both produce metallurgically similar, compatible bauxite.Rawmin has advised that it wishes to take the review to the next stage of assessment, including:
1. Progressing further discussions with local councils and government business development officers, building on the initial meetings in Bundaberg and Gayndah on 30th and 31st May which were encouraging and welcoming;
2. Determining the simplest logistics solutions for an early start-up of shipments;
3. Assessing the most suitable product specifications for the deposits and customers;
4. Providing marketing samples to pre-qualified customers;
5. Commencement of economic assessments; and
6. Discussions with its banks concerning project finance.
Granted Mining Lease Included
These assessments will include long-term Mining Lease ML80126 at Toondoon, 25km south of Mundubbera and 155 km from Bundaberg Port in central Queensland (see Figure 1 in the link below) which has an Inferred Resource of 3.5 Million tonnes of bauxite 1, with potential for extensions into the surrounding ground. Production from this mining lease may commence as a precursor for the larger Binjour Project during its approval processes.
Prospective Ground Secured
Since December 2012, ABx has obtained an Exploration Permit EPM 25146 which has secured the mineral rights on the ground surrounding the Toondoon Mining Lease.
Bauxite Discovery at Brovinia Included
The large extent of this bauxite province was demonstrated by ABx's discovery of very high grade outcrops of bauxite at Brovinia further south of Toondoon as announced on 7th September 2015 - see Figure 1 (see the link below) for locations.
Local Support
Rawmin's visit was greatly assisted by productive meetings with local and state government authorities in Bundaberg, Bundaberg Port and North Burnett Regional Council in Gayndah.
ABx Chief Operating Officer, Leon Hawker said; "The greater Binjour project has potential to produce metallurgical grade bauxite during the dry season which is the same time of year that monsoons close the ports in western India that Rawmin uses to export its bauxite. Coordination between Rawmin and ABx could supply good quality trihydrate gibbsite bauxite to an alumina refinery all year round."
"Rawmin will lead this project assessment for the rest of 2017 whilst ABx staff focus on making shipments of cement-grade bauxite from its Tasmanian operations."
To view tables and figures, please visit:
http://abnnewswire.net/lnk/0P8829B6
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.
Contact:
Ian Levy CEO and MD
Australian Bauxite Ltd.
T: +61-2-9251-7177
M: +61-407-189-122
E: corporate@australianbauxite.com.au
