Australian Bauxite Limited announces half yearly report

Australian Bauxite Limited (ABx) has announced the company’s half yearly report on September 12, noting each of its activities during the period. The most notable one is its incorporation of ALCORE Limited as a wholly owned subsidiary to fund and manage the ALCORE project of developing aluminium fluoride and valuable co-products producing plant, using advanced technologies.

The project primarily intends to refine raw bauxite, with a market price of US$ 50, into high-value products worth more than US$ 800 per tonne.

Stage 1 of the project started on July 1. Funding is in place to complete Stage 1, scheduled to take 3 months from 1 July for final design, 1 month for final permitting, followed by 3 months construction and up to 5 months of production.

ABx believes that on completing the project, it will become the first Australian supplier of aluminium fluoride to the Australian aluminium smelters and one other overseas market.

Company’s other activities in the half-year included:

• The Binjour feasibility study;
• Mining and processing in Tasmania, with exports shipped from Bell Bay; and
• Assessment and development of its Penrose deposit, in New South Wales.

In the interim of financial report for H1 2018, ABx did not miss to talk about the enormous opportunities of bauxite shipments from Tasmania and Queensland.

It particularly noted, “Opportunities exist to make large-tonnage shipments from Tasmania to major customers during the Tasmanian summer dry months (November to March) and supply bauxite from Binjour, in Queensland, in the dry season (April to November), which is best for production and shipping from Bundaberg.”

“This opportunity will be investigated over the coming year as the Binjour feasibility study is finalised and negotiations are completed for offtake agreements of more than one million tonnes of bauxite per year.”

It said it had about 130,000 tonnes of bauxite stockpiled in Tasmania, comprising:

• 2050 tonnes of cement and fertiliser grade bauxite;
• 60,800 tonnes ready for blending bauxite;
• 30,200 tonnes ready for classification; and
• 36,700 tonnes of broken ore stocks ready for screening for future needs.