Bauxite News - Market

ABx reports major EoIs for its 121,300 tonnes sale-ready bauxite in Q1 2017

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Sydney based leading bauxite producer Australian Bauxite Limited is getting a steady flow of buying leads from customers intending to enter into long-term purchase agreements. In its latest quarterly activities report, the bauxite miner said it currently boasts a sale-ready stockpile of 121,300 metric tonnes of bauxite. Till the end of first quarter of 2017, six customers from four different countries worldwide have expressed interest to purchase ABx’s bauxite.

In 2016, ABx sold 42,005 metric tonnes of cement-grade bauxite in four sales. Prior to that, it had sold 3,584 metric tonnes of the non-metallurgical grade bauxite in four separate sales since November, 2015.

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Demonstration mining and processing of bauxite has been started at Fingal Rail site- ABx’s second mine, as a proof of the company’s proprietary TasTech technology. The technology is expected to deliver high-specification, cement-grade bauxite for long-term contracts and add value to the ore mined by as much as ten times over, the report stated.

While commenting on the progress made, ABx CEO Ian Levy said, “We have supported the evolution of this exciting technology for over 2 years and feel that it now warrants a detailed feasibility study by independent consultants."

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ABx's bauxite for sale includes stockpiles of 35,500 tonnes of cement-grade bauxite, 1,100 tonnes of fertilizer grade bauxite, mine stockpiles of 16,900 tonnes of metallurgical-grade bauxite, 50,700 tonnes of cement-grade bauxite, and 17,100 tonnes of fertilizer-grade bauxite. Other than these products, another 33,000 tonnes is available, screened and ready for classification when necessary; and another 36,700 tonnes of bauxite remain to be screened, the report discloses.

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