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Ord River delivers JORC Resource upgrade at bauxite and alumina project
Edited by : AL CIRCLE
1 min read
Highlighting some of Ord River's recent achievements, just last month the company delivered a 73.8% increase in the JORC Resource for the bauxite and alumina project in Laos, with a Bankable Feasibility Study the next step in progressing the project.
The new Resource comprises 226 million tonnes at 26.7% alumina and includes a Measured Resource of 69 million tonnes at 28.1%.
The Measured Resource is sufficient for a mining operation that would last 34.5 years at the proposed 600,000 tonne alumina refinery.
The Laos project is held by Sino Australian Resources (SARCO), a joint venture company owned 49% by Ord River and 51% by China Nonferrous Metal Industry’s Foreign Engineering and Construction Company (NFC).
SARCO has already secured a letter of proposal from China Minsheng Banking Corporation to finance 70% of the total capital required to build the alumina refinery.
Memorandums of Understanding have been secured with NFC for a fixed price and fixed term engineering, procurement and construction contract and a 20 year alumina offtake agreement.
The new Resource comprises 226 million tonnes at 26.7% alumina and includes a Measured Resource of 69 million tonnes at 28.1%.
The Measured Resource is sufficient for a mining operation that would last 34.5 years at the proposed 600,000 tonne alumina refinery.
The Laos project is held by Sino Australian Resources (SARCO), a joint venture company owned 49% by Ord River and 51% by China Nonferrous Metal Industry’s Foreign Engineering and Construction Company (NFC).
SARCO has already secured a letter of proposal from China Minsheng Banking Corporation to finance 70% of the total capital required to build the alumina refinery.
Memorandums of Understanding have been secured with NFC for a fixed price and fixed term engineering, procurement and construction contract and a 20 year alumina offtake agreement.
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