Australian Bauxite supplies YTD 120,000 tonnes of bauxite to its customers

Australian Bauxite Limited’s Chairman Paul Lennon addressed shareholders at its 10th Annual General Meeting (AGM). Paul Lennon said that company has sold 120,000 tonnes of bauxite to date to its repeat customers.

Australian Bauxite has supplied 110,000 tonnes of cement-grade bauxite and 10,000 tonnes of fertiliser grade bauxite.  In April-May 2019, bauxite sale from Bald Hill Bauxite Project stood at 32,500 tonnes.  “ABx’s cash at bank remains satisfactory and ABx stands ready to sell metallurgical grade bauxite as soon as possible whilst demand is strong and the Australian dollar exchange rate is attractive.”

The company has a further 41,000 tonnes of product stockpiled at Bald Hill and sufficient broken ore stocks for quick delivery of the next sale.

Australian Bauxite said that the company is working on ways to optimise the development, extraction and marketing of high-priced refractory-abrasive grade bauxite from its white bauxite deposit at Penrose 90kms inland of Port Kembla NSW.

The company will soon conduct confirmatory tests for its planned production of aluminium fluoride by refining its Tasmanian bauxite.

“ABx’s marketing team are confident of securing successful sales from current negotiations,” said Paul Lennon. “We will maximise the value from our bauxite by developing ALCORE bauxite refining so as to generate a growing income stream for ABx shareholders. We believe we are unlocking value for all shareholders by fast-tracking the development of the ALCORE bauxite refining project.”