AUDIO: Australian Bauxite (ASX:ABZ) CEO Ian Levy on Transfer of Bauxite Tenements from Hudson Resources
Sydney, Jan 20, 2010 (ABN Newswire) - AUDIO: Australian Bauxite Limited (
ASX:ABZ) was incorporated late in 2009 specifically for the purpose of acquiring the bauxite interests of Hudson Resources Limited.
The proposal was to increase the portfolio through a staged development program in each of three bauxite provinces which will include exploration, sampling, drill testing and analysis from a wider range of targets on all exploration tenements.
Just last week Australian Bauxite Limited received advice from Queensland Mines and Energy that title in all the Queensland ABx project tenements had been transferred from Hudson Resources to ABx3 Pty Ltd, a wholly owned subsidiary of ABx.
Audio Multimedia link:
http://www.abnnewswire/press/en/62107/Bauxite-Resources
Highlights:
- Transfer of Title for the Queensland bauxite tenements - 17 tenements covering 5000 square kilometers
- Target of 200 Million Tonnes of Bauxite
- Successful listing of the company on the last trading day of the year prior to Summer break
- Shallow material targeted for early extraction
- Reduction of key costs with proximity to major infrastructure
- No Native Title Complications
- Increased Bauxite demand curve with growth of new China/Asian markets for Aluminium
- Global demand for Aluminium has increased tenfold in recent years
- Australia has 60% of global Bauxite exports
- Chinese Parties in concurrent negotiation
- DSO for NSW tenements
About ABx Group Limited
ABx Group Limited (ABx) (ASX:ABX) started as a bauxite miner in Tasmania in 2014 & controls the Eastern Australian Bauxite Province. In 2020 to 2023, ABx also discovered Australia’s only true ionic adsorption clay Rare Earth Elements resource at Deep Leads in pine plantations 40km west of Launceston with a JORC-compliant resource of 89 million tonnes from only 29% of the mineralised outline, averaging 844 ppm total rare earth oxides that is the most enriched in the critically important rare earths, Dy and Tb, of any Australian REE deposit.
ABx has also developed a proprietary technology to produce fluorine chemicals from an aluminium smelter waste product and return the fluorine back into the smelters, thus reducing reliance on imported aluminium fluoride.
ABx has committed a large proportion of its expenditure into Research and Development and has found ways to capitalise on the main strengths of its bauxite type which is very clean, free of all deleterious elements and can be separated into different product streams using physical, chemical and geophysical methods. It has produced and marketed specialist bauxite products for the manufacturers of fertiliser, cement with high late strength for major infrastructure such as bridges and is in the advanced stages of approvals for production of metallurgical bauxite from its Binjour Bauxite deposit with JORC-compliant resources of 37 million tonnes of bauxite, in a joint development with a Chinese-focussed Australian trading company Good Importing International.
ABx is also preparing to produce fertiliser grade and cement grade bauxite from its DL130 bauxite quarry in northern Tasmania, 40km west of Launceston. This quarry is sited in the middle of the large Deep Leads REE deposit and may one day be a site for heap leaching of the REE using a low-cost, benign leachate with the same acidity as apple juice or tea.
ABx endorses best practices on agricultural land, strives to leave land and environment better than we find it. We only operate where welcomed.
| ||
|
