
According to the report, Tasmanian miner, Australia Bauxite Ltd has pulled up its socks to inaugurate its bauxite refining project ALCORE, at Bald Hill near Campbell Town. The work is progressing in full swing and is expected to supersize the miner’s profits from bauxite once established.
Chief Executive of Australia Bauxite Ltd. Ian Levy thinks that this project, which is going to refine aluminium fluoride from Bauxite, would be a game-changer for the company.
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As he says, “ALCORE is looking more exciting at every stage and would increase the profits from our very clean type of bauxite by a factor of 10 to 30 times.”
In fact, the company reports that it has made a significant progress with ALCORE project so far, led to the “development of bauxite beneficiation and refining technology to produce the high-value aluminium fluoride used in aluminium smelters and lithium ion batteries”.
It will produce corethane ultra-pure hydrocarbon and will also substitute for natural gas and diesel, used for heating and industrial applications.
With a rapid progress, the first stage for engineering and cost study of ALCORE was finished on February 28, 2018, including the construction of an engineering validation plant in New South Wales, where bulk samples were produced and tested by potential customers. According to the company, this sample testing had reduced stage one costs by more than half, to $5.5 to $6.5 million.
US$1.2 million has already been offered by sophisticated investors and a party which would provide services to ALCORE, reported by Australian Bauxite. Three parties in the aluminium fluoride industry have also approached the company by now to discuss future sales. They are interested in investing funds for the second stage, which is a 50,000 tonnes per year production plant, subject to offtake agreements.
Discussions with governments and agencies are also “progressing at the highest level”, said the company, adding that it had presented its plans to a supportive Bell Bay Manufacturing Precinct sub-committee in December.
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