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Sydney, Jan 20, 2010 (ABN Newswire) - AUDIO: Australian Bauxite Limited (
ASX:ABZ) was incorporated late in 2009 specifically for the purpose of acquiring the bauxite interests of Hudson Resources Limited.
The proposal was to increase the portfolio through a staged development program in each of three bauxite provinces which will include exploration, sampling, drill testing and analysis from a wider range of targets on all exploration tenements.
Just last week Australian Bauxite Limited received advice from Queensland Mines and Energy that title in all the Queensland ABx project tenements had been transferred from Hudson Resources to ABx3 Pty Ltd, a wholly owned subsidiary of ABx.
Audio Multimedia link:
http://www.abnnewswire.net/multimedia/en/62107/Bauxite-Resources
Highlights:
- Transfer of Title for the Queensland bauxite tenements - 17 tenements covering 5000 square kilometers
- Target of 200 Million Tonnes of Bauxite
- Successful listing of the company on the last trading day of the year prior to Summer break
- Shallow material targeted for early extraction
- Reduction of key costs with proximity to major infrastructure
- No Native Title Complications
- Increased Bauxite demand curve with growth of new China/Asian markets for Aluminium
- Global demand for Aluminium has increased tenfold in recent years
- Australia has 60% of global Bauxite exports
- Chinese Parties in concurrent negotiation
- DSO for NSW tenements
Contact:
Investor Relations
Henry Kinstlinger
Australian Bauxite Limited
Telephone: +61-2-9251-7177
ASX:ABZ) was incorporated late in 2009 specifically for the purpose of acquiring the bauxite interests of Hudson Resources Limited.The proposal was to increase the portfolio through a staged development program in each of three bauxite provinces which will include exploration, sampling, drill testing and analysis from a wider range of targets on all exploration tenements.
Just last week Australian Bauxite Limited received advice from Queensland Mines and Energy that title in all the Queensland ABx project tenements had been transferred from Hudson Resources to ABx3 Pty Ltd, a wholly owned subsidiary of ABx.
Audio Multimedia link:
http://www.abnnewswire.net/multimedia/en/62107/Bauxite-Resources
Highlights:
- Transfer of Title for the Queensland bauxite tenements - 17 tenements covering 5000 square kilometers
- Target of 200 Million Tonnes of Bauxite
- Successful listing of the company on the last trading day of the year prior to Summer break
- Shallow material targeted for early extraction
- Reduction of key costs with proximity to major infrastructure
- No Native Title Complications
- Increased Bauxite demand curve with growth of new China/Asian markets for Aluminium
- Global demand for Aluminium has increased tenfold in recent years
- Australia has 60% of global Bauxite exports
- Chinese Parties in concurrent negotiation
- DSO for NSW tenements
Contact:
Investor Relations
Henry Kinstlinger
Australian Bauxite Limited
Telephone: +61-2-9251-7177
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About Australian Bauxite Limited
Australian Bauxite Limited (ABx) (ASX:ABZ) holds the core of the newly discovered Eastern Australian Bauxite Province. Its 37 bauxite tenements in Queensland, NSW and Tasmania covering 8,500 km2 were rigorously selected on 3 principles: 1. good quality bauxite; 2. proximity to infrastructure connected to export ports; and, 3. free of socio-environmental or native title land constraints.
All tenements are 100% owned and free of obligations for processing and third-party royalties. ABx has already discovered many bauxite deposits and new discoveries are still being made as knowledge and expertise grows.
The company's bauxite is high quality and can be processed into alumina at low temperature – the type that is in short-supply globally. Global resources declared to date are 68 million tonnes. At the company's first drilling prospect in Inverell, northern NSW, an interim resource of 35 million tonnes has been reported from drilling 15% to 20% of the area prospective for bauxite and a resource of 25 million tonnes of bauxite has been reported at the Taralga project in southern NSW. 6 million tonnes maiden resource was declared at Guyra. Results from the Binjour Plateau in central QLD confirm that ABx has discovered a significant bauxite deposit including some bauxite of outstandingly high quality. Australian Bauxite Limited aspires to identify large bauxite resources in the Eastern Australian Bauxite Province which is emerging as one of the world's best bauxite provinces.
ABx has the potential to create significant bauxite developments in three states - Queensland, New South Wales and Tasmania. Its bauxite deposits are favourably located for direct shipping of bauxite to both local and export customers.
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>>>        Australian Bauxite Limited>>>  Hudson Resources Limited |
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