Australian Bauxite executes MoU with Tianshan Aluminium for the sale of bauxite
Australian Bauxite Limited has announced that the company has executed a memorandum of understanding (MOU) with Tianshan Aluminium for the supply of 0.5 to 1.5 million tonnes of bauxite per year from Binjour Project, Queensland. Australian Bauxite’s Marketing Partner, Rawmin Mining and Industries Pvt. Ltd (Rawmin) is also a part of the MoU.
Australian Bauxite said, “Subject to satisfactory results from the planned trial mining and processing testwork at Binjour, ABx… (Rawmin) are planning to commit to project development in late 2019, commencing with a mining lease application.”
Under this agreement, Tianshan's new low temperature refinery in southern China will received bauxite from ABx's bauxite mines in Australia and Rawmin's bauxite mines in India.
“Coordinated production and shipments from all 3 sets of mines will achieve a reliable year-round delivery to the customer of bauxite at a consistent specification,” Australian Bauxite added.
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