08 AUGUST 2011proactiveinvestors
Ord River Resources reports MoU for Laos alumina off-take sale agreement signed
Edited by : AL CIRCLE
1 min read
Ord River Resources (ASX: ORD) has reported that Sino Australian Resources (SARCO) and China Non-Ferrous Metal Industry’s Foreign Engineering & Construction (NFC) have signed a second Memorandum of Understanding (MoU) for sale of alumina from the Laos Aluminium JV Project.
SARCO and NFC will enter into a minimum 20 year off-take agreement for SARCO to sell to an NFC-led buyer group alumina products from Laos. Ord River holds a 49% interest in SARCO, a joint venture company between ORD and NFC.
Ord River is bullish that SARCO will develop the project into a world class alumina refinery with bauxite potential estimated to be to 2 billion tonnes.
The agreement completes the initial round of negotiations for the three most important building blocks for the planned construction of a 600,000 tonne alumina refinery in Laos.
The Lao aluminium project has a JORC compliant resource of 130 million tons of quality bauxite resource and the partners are building a 600,000 ton per annum capacity alumina refinery, which has received strong support from the Lao and Chinese governments.
SARCO and NFC will enter into a minimum 20 year off-take agreement for SARCO to sell to an NFC-led buyer group alumina products from Laos. Ord River holds a 49% interest in SARCO, a joint venture company between ORD and NFC.
Ord River is bullish that SARCO will develop the project into a world class alumina refinery with bauxite potential estimated to be to 2 billion tonnes.
The agreement completes the initial round of negotiations for the three most important building blocks for the planned construction of a 600,000 tonne alumina refinery in Laos.
The Lao aluminium project has a JORC compliant resource of 130 million tons of quality bauxite resource and the partners are building a 600,000 ton per annum capacity alumina refinery, which has received strong support from the Lao and Chinese governments.
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