Australian Bauxite and Rawmin apply for grant to fund Binjour Bauxite Project

<p>Australian Bauxite Limited (ABx)&nbsp;has announced through a press release that it has partnered with marketing partner Rawmin to apply for a grant from the Australian government for funds to develop its Binjour Bauxite Project in the Wide Bay Burnett region of central Queensland.</p> <p>The project involves production of beneficiated metallurgical-grade and cement-grade bauxite from Binjour for export from Bundaberg Port.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/ABL.jpg" alt="News" width="517" height="226" /></p> <p>The firms submitted a proposal to Canberra for the Regional Jobs and Investment Package for the Wide Bay Burnett region in Queensland. The grant up to A$20 million is intended for diversifying the local economy, stimulating economic growth, and establishing sustainable employment for the area along with supporting project costs.</p> <p>Commenting on the project, ABx CEO, Ian Levy said,&ldquo;Binjour is ABx&rsquo;s largest and highest grade bauxite project with 28 million tonnes of high grade trihydrate gibbsite bauxite at Binjour and Toondoon 1,&rdquo; said ABx&rsquo;s CEO Ian Levy. &ldquo;This project needs long-term sales contracts with reliable customers to underpin its economic viability. Marketing partner, Rawmin, has commenced negotiations with potential customers in several countries on our behalf.</p> <p>&ldquo;The synergies with Rawmin&rsquo;s own mines in India are substantial because Binjour can supply bauxite during the QLD dry season which is the wet season in India when Indian ports are closed,&rdquo; he added.</p> <p>{googleAdsense}</p> <p>Ian further added that collaborating with Rawmin on sales strategy and finance may deliver the Binjour Bauxite Project before project deadline. He also said that the assistance from the Federal Government&rsquo;s Regional Jobs and Investment Package scheme would help them start immediately.</p> <p>Based in Sydney, ABx conducts operations in Tasmania, Queensland, and New South Wales. The Binjour tenement in Queensland is considered by the company to be its flagship project in Queensland.</p>