AUDIO: Australian Bauxite (ASX:ABZ) CEO Ian Levy on Transfer of Bauxite Tenements from Hudson Resources
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:
- 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
About Australian Bauxite Ltd
Australian Bauxite Limited (ABx) (ASX:ABX) has its first bauxite mine in Tasmania & controls the Eastern Australian Bauxite Province. ABx's 11 bauxite tenements in Queensland, New South Wales & Tasmania totalling 662 km2 are all 100% owned, unencumbered & free of third-party royalties. ABx's bauxite is gibbsite trihydrate (THA) bauxite that can be processed into alumina at low temperature.
ABx has committed a large proportion of its expenditure into Research and Development to find ways to capitalise on the main strengths of its bauxite type which is very clean, free of all deleterious elements and partitioned into layers, nodules, particles and grains of different qualities that can be separated into different product streams using physical, chemical and geophysical methods.
ABx has declared large Mineral Resources in northern NSW, southern NSW, Binjour in central QLD & in northern Tasmania.
ABx's first mine commenced at Bald Hill near Campbell Town, Tasmania in December 2014 - the first new Australian bauxite mine for more than 35 years.
ABx aspires to identify large bauxite resources in the Eastern Australian Bauxite Province and has created significant bauxite development projects in 3 states, Queensland, New South Wales and Tasmania. Its bauxite deposits are favourably located for direct shipping of bauxite to both local and export customers.
ABx endorses best practices on agricultural land, strives to leave land and environment better than we find it. We only operate where welcomed.