Update on Binjour Project Queensland
Sydney, June 26, 2017 AEST (ABN Newswire) - Australian Bauxite Limited (
ASX:ABX) (ABx) and its marketing partner, Rawmin Mining and Industries Pvt. Ltd (Rawmin) commenced a review in late May of ABx's bauxite resources around Binjour totalling 28 million tonnes (see resources details in Appendix in the link below). Binjour is located 115kms from the export port of Bundaberg which is similar scale to the port used by Rawmin in India to export its bauxite to long-term customers. ABx and Rawmin both produce metallurgically similar, compatible bauxite.
Rawmin has advised that it wishes to take the review to the next stage of assessment, including:
1. Progressing further discussions with local councils and government business development officers, building on the initial meetings in Bundaberg and Gayndah on 30th and 31st May which were encouraging and welcoming;
2. Determining the simplest logistics solutions for an early start-up of shipments;
3. Assessing the most suitable product specifications for the deposits and customers;
4. Providing marketing samples to pre-qualified customers;
5. Commencement of economic assessments; and
6. Discussions with its banks concerning project finance.
Granted Mining Lease Included
These assessments will include long-term Mining Lease ML80126 at Toondoon, 25km south of Mundubbera and 155 km from Bundaberg Port in central Queensland (see Figure 1 in the link below) which has an Inferred Resource of 3.5 Million tonnes of bauxite 1, with potential for extensions into the surrounding ground. Production from this mining lease may commence as a precursor for the larger Binjour Project during its approval processes.
Prospective Ground Secured
Since December 2012, ABx has obtained an Exploration Permit EPM 25146 which has secured the mineral rights on the ground surrounding the Toondoon Mining Lease.
Bauxite Discovery at Brovinia Included
The large extent of this bauxite province was demonstrated by ABx's discovery of very high grade outcrops of bauxite at Brovinia further south of Toondoon as announced on 7th September 2015 - see Figure 1 (see the link below) for locations.
Local Support
Rawmin's visit was greatly assisted by productive meetings with local and state government authorities in Bundaberg, Bundaberg Port and North Burnett Regional Council in Gayndah.
ABx Chief Operating Officer, Leon Hawker said; "The greater Binjour project has potential to produce metallurgical grade bauxite during the dry season which is the same time of year that monsoons close the ports in western India that Rawmin uses to export its bauxite. Coordination between Rawmin and ABx could supply good quality trihydrate gibbsite bauxite to an alumina refinery all year round."
"Rawmin will lead this project assessment for the rest of 2017 whilst ABx staff focus on making shipments of cement-grade bauxite from its Tasmanian operations."
To view tables and figures, please visit:
http://abnnewswire.net/lnk/0P8829B6
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.
| ||
|
