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) is a uniquely positioned Australian company delivering materials for a cleaner future.
The three priority projects are:
- Heavy rare earths: Supplying light and heavy rare earths from Tasmania into Western supply chains
o Processing Options Analysis conducted in partnership with external experts
- Clean fluorine chemical production: Producing industrial chemicals from aluminium smelter by-product (ALCORE)
o Continuous pilot plant under construction in Bell Bay, Tasmania
- Near-term bauxite production: Mining bauxite resources for the aluminium, cement and fertiliser industries
o Agreements executed with Good Importing International for bauxite projects in Queensland and New South Wales, and $2.7 million initial payment has been received
o Approvals well advanced for DL130 bauxite project in northern Tasmania
ABx endorses best practices on agricultural land and strives to leave land and environment better than we find it. We only operate where welcomed.
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