ALCORE Limited to Have Global Licence for Bauxite Refining
Sydney, Aug 8, 2018 AEST (ABN Newswire) - Australian Bauxite Limited (
ASX:ABX) (ABx) is pleased to announce that its wholly-owned subsidiary, ALCORE Limited will have global licence rights for bauxite refining using the ALCORE technology.
- ALCORE technology is designed to refine raw bauxite to produce Aluminium Fluoride (AlF3) and other valuable co-products - see Figures 1 & 2(see link below).
- The global licence will allow ALCORE Limited to build multiple plants in any locations to meet growing demand for AlF3 and associated co-products as increase aluminium smelter production and as use of AlF3 in lithium ion batteries increase demand for AlF3.
- Site construction works for Stage 1 of the ALCORE project commenced on 1 July as planned at ALCORE's pre-approved Pilot Plant site in Berkeley Vale, Central Coast NSW.
- Stage 1 is designed to produce AlF3 test samples and then produce Corethane, which is pure hydrocarbon powder refined from low-value coals. Graphite can also be refined to a very high purity for use in high-efficiency batteries.
- Corethane has been used to provide thermal and electrical power. It has also been used several times as a gas-substitute in gas turbine electrical generators, and used as a diesel substitute for fuel security purposes. Corethane also has industrial applications and several potential customers have already requested test samples for their industrial plants.
- Discussions continue with governments, agencies and major companies in the aluminium industry
ABx CEO, Ian Levy Comments:
"Step by step, ABx is bringing ALCORE's powerful new bauxite refining technology closer to becoming an important domestic producer and supplier of key AlF3 products for the Australasian aluminium smelters. However, in the longer-term, these global technology rights allow ALCORE Limited to produce AlF3 in any location globally. Creating ALCORE Limited as a project-specific subsidiary is expected to unlock considerable value for shareholders in both the short and medium terms."
"ALCORE Technology also produces several valuable co-products including silica fume for the cement industry and Corethane pure hydrocarbons for energy and fuel security. Upside potential includes production of pure AlF3 for Lithium-ion batteries, iron oxide pigments, titanium oxide pigments. Further potential exists for developing ultra-pure products such as high purity alumina ("HPA") for the manufacture of scratch-resistant sapphire glass for phones and computer screens."
"ABx itself continues the development of its three core bauxite projects; the Tasmanian mine, the large Binjour Project in central QLD and the Penrose refractory bauxite project 90km inland of Port Kembla NSW."
To view figures, please visit:
http://abnnewswire.net/lnk/UWW3V6N1
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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