2018 Annual Report
Sydney, Mar 29, 2019 AEST (ABN Newswire) - Australian Bauxite Ltd (
ASX:ABX) provides the Company's 2018 Annual Report for the 12 month period to 31 December 2018.
Australian Bauxite Limited (ABx or the Company) is an emerging bauxite producer and exploration company listed on the Australian Securities Exchange (ASX) on 24 December 2009. Its ASX code is ABX.
ABx currently holds 14 bauxite tenements in New South Wales, Queensland and Tasmania covering 834 km2 and operates its first mining operations at the Bald Hill bauxite project in Tasmania - see Figures 1 & 2. ABx's bauxite is gibbsite trihydrate (THA) bauxite that can be processed into alumina at low temperature- the type in short supply globally. It is a bauxite free of quartz, alkalis and base metals, making it also ideal for cement-making. Some zones of grey-white bauxite may be suitable for manufacture of refractories, abrasives and chemicals.
ABx's bauxite can be beneficiated into high value products via two new technologies, namely TasTech physical upgrading and ALCORE chemical upgrading. ALCORE Limited (ALCORE) is a wholly owned subsidiary operating a Research Centre on the Central Coast of New South Wales where it is currently undertaking the production of test samples. A patent application has been lodged for its technology to refine raw bauxite to produce Aluminium Fluoride (AlF3) and other valuable co-products including the Corethane gas substitute. AlF3 is a key electrolyte ingredient in aluminium production by aluminium smelters. Global demand for AlF3 is increasing strongly as aluminium production increases and will grow rapidly when use of AlF3 in lithium batteries increases.
ALCORE completed construction of its sophisticated laboratory in December within budget and has now achieved full structural completion. Funding for the ALCORE Stage 1 laboratory was provided by seed capital investors.
ABx has declared JORC compliant Mineral Resources totalling 137.1 million tonnes (inferred 64.4 Mt, indicated 72.7 Mt - see resource statement in ASX release 31 January 2019) in New South Wales projects, Binjour in central Queensland inland from Bundaberg Port and in northern Tasmania extending from Campbell Town to Bell Bay in northern Tasmania - see Figure 1. All tenements are 100% owned, unencumbered and free of third party royalties.
During 2018, ABx made sales of fertiliser grade bauxite and is also well-advanced in producing the next 30,000 tonne cement-grade bauxite sale from the Bald Hill operations in Tasmania, which commenced in December 2014 as Australia's first new bauxite production project for more than 35 years. Full-scale production at Bald Hill has gone well, achieving higher tonnages and grades than budget well within the 1 May shipping deadline.
To view the full report, please visit:
http://abnnewswire.net/lnk/H2W4VM79
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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