Australian Bauxite posts strong sales in the quarter ended June 30

<p>Australian Bauxite Limited released their quarterly report &amp; activities statement for 3 months to 30 June 2016 on July 24, Sunday. The mining group with an available cash plus R&amp;D incentive (due) amounting to $2.9 million posted strong sales of cement-grade bauxite totalling 40,000 tonnes during the period under review. Sale prices were satisfactorily profitable and commercial in confidence. Fertiliser-grade bauxite sales continued at moderate tonnages.<br /><br />The company attributed the performance to the buoyancy in the metallurgical bauxite market. Markets for metallurgical bauxite though had bottomed around May-June 2016, prices have risen in recent weeks.<br /><br /><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/ABx-bauxite.jpg" alt="News" width="860" height="560" /><br /><br />Australian Bauxite, along with its marketing partner, Rawmin Mining Industries, is exploring new markets for both cement-bauxite and metallurgical bauxite for the aluminium industry, said the ASX listed company in their statement.<br /><br />In the quarter ended June 30, Australian Bauxite achieved proof of concept for its R&amp;D initiative that revolves an all-weather technology (dubbed "TasTech"), which the company says, can produce 3 bauxite product types at good tonnages all year round.<br /><br />Australian Bauxite also provided an Assessment of Binjour Bauxite Project in Queensland. The company said that it is re-assessing the optimum way to develop this significant new bauxite province with potential to become the flagship project for ABx over the next few years. Discussions have begun with companies holding adjacent bauxite-bearing tenements to determine if additional economies of scale can be achieved for the project.</p>