Sydney, Dec 7, 2011 (ABN Newswire) - Australian Bauxite Limited (ABx) (ASX:ABZ) is pleased to announce the appointment of Mr Dawkins A.O. as an independent Director to the Board.
Mr Dawkins earliest exposure to the mining industry was when as Minister for Trade (1984- 1987) in the Hawke Government he was responsible for the administration of export controls on certain minerals until he proposed the abolition of these arrangements in order to improve the operation of the market. During his time in Government, Mr Dawkins served in a number of other portfolios including Minister for Finance (1983-1984), Minister for Employment, Education and Training (1987-1991) and Treasurer (1991-1993) in the Keating Government.
Mr Dawkins brings to ABx a wealth of governance experience, including prominent roles in public and private institutions. He chairs the Australian Qualifications Framework Council and the Board of Governors of the Institute for International Trade at the University of Adelaide and is on the unlisted Government Board of Relations Australia Advisory Ltd.
Mr Dawkins is currently a Director of Archer Exploration Limited, and is Chairman of Sovereign Gold Company Limited and Integrated Legal Holdings Limited.
ABx Chairman, Peter Meers welcomed Mr Dawkins, "The Board anticipates that Mr Dawkins will significantly contribute towards the rapid growth of ABx during 2012 and beyond."
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.
Henry Kinstlinger Investor Relations Tel: +61-2-9251-7177