Press Releases

Distributed: Oct 27, 2011

Alerts Login
loading.........

Share on StockTwits  
Sydney, Oct 27, 2011 (ABN Newswire) - Australian Bauxite Limited (ASX:ABZ) says today Mr Levy will be presenting at the Mining 2011 Resources Convention at 5:10 pm today.

The Convention is at the Brisbane Convention and Exhibition Centre.

Australian Bauxite is also exhibiting at the convention and is located at Stand 51.

Shareholders and the public are welcome to attend the exhibition and presentation.

Chinese Bauxite Statistics

The Chinese bauxite import statistics for the month of September 2011 show another record month with imported tonnage of bauxite being 37% more than last year at 4.48 million tonnes for the month. View figures here: http://media.abnnewswire.net/media/en/docs/70279-ABZ.pdf

The price of Australian bauxite imported into China has risen 19% to US$57.23/tonne.

Commenting on the market trends, ABx CEO, Ian Levy said;" The upward trend in prices and tonnages has been a bit above expectations but not surprising when one looks at the industry transformation that has occurred in China and India since 2003. Most pleasing is the fact that Australian Bauxite's discoveries are achieving price premiums exceeding 25%."

Market Assessment

This week, market assessment activities for products from Australian Bauxite's Goulburn Project have commenced as part of the Pre-Feasibility Study. These involve discussions with some of the world's largest importers of bauxite.

Broker Research Report

State One Stockbroking Limited has completed a comprehensive research report on the Company.

The report is available through contacting State One Stockbroking on +61-8-9288-3388. It is also posted on the ABx website on the Investors Broker Coverage page.


Share on StockTwits  


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.

Contact

Henry Kinstlinger
Investor Relations
Australian Bauxite Limited
Telephone: +61-2-9251-7177


  Related Companies

>>>         Australian Bauxite Limited

  Related Industry Topics:

Financial General | Mining | Bauxite | 

  This Page Viewed:  (Last 30 Days: 4) (Since Published: 1381) 

   

  ABN Newswire on Social Media