30 MAY 2013abnnewswire.net
Bauxite Resources Limited announces upgrade of bauxite resource
Edited by : AL CIRCLE
2 min read
Bauxite Resources Limited is pleased to announce a resource upgrade for the Felicitas bauxite deposit in the Darling Range Western Australia.
The Felicitas resource is contained within the Company's Bauxite Alumina Joint Ventures ("BAJV") with Yankuang Resources Ltd.
The resource is situated on a small number of large private landholdings located approximately 60km north east of Perth, and 10km from the town of Wundowie. The resource is less than 5 km from existing rail infrastructure providing a direct link to Fremantle/Kwinana Port being approximately 120 km away.
The BAJV has identified well in excess of 90 million tonnes of refinery grade bauxite at Felicitas, a critical milestone for the joint venture for the undertaking of a bankable feasibility study into the viability of an alumina refinery in Western Australia.
The costs of the feasibility study, when undertaken will be borne 90% by Yankuang, with BRL funding the remaining 10% BRL. Subject to the feasibility study results, BRL and Yankuang will design and build a refinery, with BRL funding 9% of construction costs and receiving 30% of the alumina end product.
Mr Peter Canterbury, Bauxite Resources new Chief Executive Officer said, "We believe the resources are now of a sufficient size, quality and location that they can support the development of increased alumina refining capacity in Western Australia as well as the development of plans for shipping of bauxite out through existing rail and port facilities."
The Felicitas resource is contained within the Company's Bauxite Alumina Joint Ventures ("BAJV") with Yankuang Resources Ltd.
The resource is situated on a small number of large private landholdings located approximately 60km north east of Perth, and 10km from the town of Wundowie. The resource is less than 5 km from existing rail infrastructure providing a direct link to Fremantle/Kwinana Port being approximately 120 km away.
The BAJV has identified well in excess of 90 million tonnes of refinery grade bauxite at Felicitas, a critical milestone for the joint venture for the undertaking of a bankable feasibility study into the viability of an alumina refinery in Western Australia.
The costs of the feasibility study, when undertaken will be borne 90% by Yankuang, with BRL funding the remaining 10% BRL. Subject to the feasibility study results, BRL and Yankuang will design and build a refinery, with BRL funding 9% of construction costs and receiving 30% of the alumina end product.
Mr Peter Canterbury, Bauxite Resources new Chief Executive Officer said, "We believe the resources are now of a sufficient size, quality and location that they can support the development of increased alumina refining capacity in Western Australia as well as the development of plans for shipping of bauxite out through existing rail and port facilities."
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