High Grade Refractory Bauxite Identified
Sydney, Feb 27, 2017 AEST (ABN Newswire) - Australian Bauxite Ltd (
ASX:ABX) is pleased to provide an exploration update. High quality refractory-grade bauxite discovered inland of Port Kembla ABx has discovered a layer of refractory-grade bauxite in Penrose state pine forest, adjacent to the Hume Highway, 90 kilometres from Port Kembla.
Refractory-grade bauxite is used for heat containment and abrasives and can sell for up to 5 times the current price of metallurgical grade bauxite. ABx currently sells bauxite into cement and fertiliser markets at prices higher than could be achieved in the over-supplied metallurgical bauxite market. The recent discovery of a layer of high-quality refractory-grade bauxite opens up the possibly of a new, high-priced market for ABx's bauxite products to add to its existing suite of bauxite products.
ABx CEO, Ian Levy said; "In late 2015, the company was granted its long-awaited tenement over Penrose state pine forest which is close to transport infrastructure and suited to quarrying during forest harvest cycles. The discovery of a thick layer of high-value refractory-grade bauxite is a positive development. Exploration of extensions to this deposit will continue simultaneously with market testing of this special bauxite product which is in critical short supply in Australia and globally. This will assist the marketing of ABx's current cement-grade and fertiliser-grade bauxite products from its first mine at Bald Hill in Tasmania."
Surface sampling in Penrose state pine forest
Surface exposures of bauxite in the Penrose Forest Exploration Licence EL 8370 tends to be iron-rich and gives no indication of the presence of deeper layers of higher grade and refractory grade bauxite.
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About Australian Bauxite Ltd
Australian Bauxite Limited (ABx) (ASX:ABX) has its first bauxite mine in Tasmania & controls the Eastern Australian Bauxite Province. ABx's 11 bauxite tenements in Queensland, New South Wales & Tasmania totalling 662 km2 are all 100% owned, unencumbered & free of third-party royalties. ABx's bauxite is gibbsite trihydrate (THA) bauxite that can be processed into alumina at low temperature.
ABx has committed a large proportion of its expenditure into Research and Development to find ways to capitalise on the main strengths of its bauxite type which is very clean, free of all deleterious elements and partitioned into layers, nodules, particles and grains of different qualities that can be separated into different product streams using physical, chemical and geophysical methods.
ABx has declared large Mineral Resources in northern NSW, southern NSW, Binjour in central QLD & in northern Tasmania.
ABx's first mine commenced at Bald Hill near Campbell Town, Tasmania in 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 and has created significant bauxite development projects 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.
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