Bauxite Resources Limited (ASX:BAU) Confirms Plans For 2Mtpa Mining Operation And Withdraws Previous EPA Application And EPA Appeal
Perth, June 25, 2010 AEST (ABN Newswire) - Australian resources company Bauxite Resources Limited (
ASX:BAU) (PINK:BXRDF) ("BRL" or "the Company") will apply to the Environment Protection Authority (EPA) for a two million tonne per annum (Mtpa) mining operation on private land north of Bindoon, Western Australia. The Board believes this new application to the EPA will enable it to meet its objective of becoming an economically sustainable bauxite mining company able to deliver shareholder value within an achievable timeframe.
BRL will immediately withdraw its previous application and its appeal against the EPA decision on level of assessment regarding its application to undertake a 1.2 million tonne (Mt) six month trial mining operation at Stephens road, north Bindoon. (Refer ASX announcement dated 12 April 2010).
The new application will include the bauxite that was previously requested for approval.
Bauxite Resources Limited Chairman, Mr Barry Carbon said, "Our plans are, and have always been, to develop BRL into a company built on a profitable long-term mining operation which we believe is reflected in the application we will make to the EPA."
BRL has recommended to the EPA that this new proposal for ongoing mining be assessed at the high and public level of assessment with maximum transparency. The company will share its plans with the local community before submitting its application to the EPA.
"This realistic and sustainable approach should reduce the uncertainty on the time taken to obtain environmental assessment for a mining licence while seeking sufficient tonnage for a long term sustainable operation," Mr Carbon added.
"Bauxite Resources believes this new strategy is both achievable and appropriate," said Mr Carbon.
In addition to facilitating EPA approval, BRL's current focus is also on the prompt appointment of an experienced and highly credentialed Managing Director. The Company looks forward to updating the market on this progress.
About Bauxite Resources Limited
Bauxite Resources (ASX:BAU) (OTCMKTS:BXRDF) was established with a substantial tenement holding in Western Australia to develop new bauxite supply for the global alumina/aluminium industry. The Company listed on the Australian Securities Exchange (ASX) in October 2007.
The Darling Range in the south-west of Western Australia (WA) is the world's largest bauxite mining and alumina refining region producing around 20% of the world's alumina. This area has mined bauxite and refined alumina since the 1960s. These industries are leaders in sustainable resource development and represent the fifth largest sector of WA's resource industry.
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