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09 MAY 2019 AL CIRCLE

ABx confirms production and shipment of 32,447 tonnes of cement-grade bauxite

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

On May 8, 2019, Australian Bauxite Limited (ASX:ABx) confirmed that it produced and loaded 32,447 tonnes of cement-grade bauxite onto the customer’s ship at Bell Bay Port. This was in the upper range of the contracted tonnage target of 30,000 to 33,000 of cement bauxite grade which ABX had achieved about a month ago, said the company itself.

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Till late April 2019, ABx continued to produce additional bauxite-products at its Bald Hill Bauxite Project. It received more orders for fertilizer-grade bauxite that gives a clear indication that ABx bauxite has clean chemistry ideal for acid-processing to produce high-quality fertilizer in demand.

China’s metallurgical bauxite import in February 2019 had reached record levels of 8.9 million tonnes, provided mainly by Guinea amounting 4.4 million tonnes, followed by Australia 2.8 million tonnes, and Indonesia 1.2 million tonnes.

The decline of the Australia dollar exchange rate with the US dollar from US$0.90 in 2014 to around US$0.70 in recent months has also helped to drive ABx’s bauxite competitiveness. The prices of bauxite in Australia firmed up from A$63 per tonne in mid-2017 to A$75 per tonne in recent months.

The company had also been achieving additional product stockpiles including cement-grade bauxite and fertilizer-grade bauxite.

The shares of ABx closed at A$0.100 on May 8. It holds a market capitalization of 15.33 million and approximately 145.97 million outstanding shares.


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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