Australian Bauxite Ltd: 2018 Annual Report
Sydney, Australia - Australian Bauxite Ltd. (ASX:ABX) provides the Company's 2018 Annual Report for the 12 month period to 31 December 2018.Australian Bauxite Ltd. (ABx or the Company) is an emerging bauxite producer and exploration company listed on the Australian Securities Exchange (ASX) on 24 December 2009. Its ASX code is ABX.
ABx currently holds 14 bauxite tenements in New South Wales, Queensland and Tasmania covering 834 km2 and operates its first mining operations at the Bald Hill bauxite project in Tasmania - see Figures 1 & 2. ABx's bauxite is gibbsite trihydrate (THA) bauxite that can be processed into alumina at low temperature- the type in short supply globally. It is a bauxite free of quartz, alkalis and base metals, making it also ideal for cement-making. Some zones of grey-white bauxite may be suitable for manufacture of refractories, abrasives and chemicals.
ABx's bauxite can be beneficiated into high value products via two new technologies, namely TasTech physical upgrading and ALCORE chemical upgrading. ALCORE Limited (ALCORE) is a wholly owned subsidiary operating a Research Centre on the Central Coast of New South Wales where it is currently undertaking the production of test samples. A patent application has been lodged for its technology to refine raw bauxite to produce Aluminium Fluoride (AlF3) and other valuable co-products including the Corethane gas substitute. AlF3 is a key electrolyte ingredient in aluminium production by aluminium smelters. Global demand for AlF3 is increasing strongly as aluminium production increases and will grow rapidly when use of AlF3 in lithium batteries increases.
ALCORE completed construction of its sophisticated laboratory in December within budget and has now achieved full structural completion. Funding for the ALCORE Stage 1 laboratory was provided by seed capital investors.
ABx has declared JORC compliant Mineral Resources totalling 137.1 million tonnes (inferred 64.4 Mt, indicated 72.7 Mt - see resource statement in ASX release 31 January 2019) in New South Wales projects, Binjour in central Queensland inland from Bundaberg Port and in northern Tasmania extending from Campbell Town to Bell Bay in northern Tasmania - see Figure 1. All tenements are 100% owned, unencumbered and free of third party royalties.
During 2018, ABx made sales of fertiliser grade bauxite and is also well-advanced in producing the next 30,000 tonne cement-grade bauxite sale from the Bald Hill operations in Tasmania, which commenced in December 2014 as Australia's first new bauxite production project for more than 35 years. Full-scale production at Bald Hill has gone well, achieving higher tonnages and grades than budget well within the 1 May shipping deadline.
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About Australian Bauxite Ltd:
Australian Bauxite Ltd. (ABx) (ASX:ABX) has its first bauxite mine in Tasmania and holds the core of the Eastern Australian Bauxite Province. ABx's 22 bauxite tenements in Queensland, New South Wales & Tasmania exceed 1,975 km2 and were selected for (1) good quality bauxite; (2) near infrastructure connected to export ports; & (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 & expertise grows.
The Company's bauxite is high quality gibbsite trihydrate (THA) bauxite that can be processed into alumina at low temperature.
ABx has declared large Mineral Resources at Inverell & Guyra in northern NSW, Taralga in southern NSW, Binjour in central QLD & in Tasmania, confirming that ABx has discovered significant bauxite deposits including some of outstandingly high quality.
At Bald Hill near Campbell Town, Tasmania, the Company's first bauxite mine commenced operations in December 2014 – the first new Australian bauxite mine for more than 35 years. 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. Telephone: +61-2-9251-7177 Mobile: +61-407-189-122
