Sydney, Sep 25, 2017 AEST (ABN Newswire) - Bauxite producer, Australian Bauxite Limited (ASX:ABX) (ABx) has received the first part payment for its 30,000 tonne bauxite cargo totalling $1.73 million. The customer will pay the remainder on proof of weight via ship's survey in the coming weeks.

This payment excludes the payment expected for an additional sale for 5,000 tonnes of a different cement-grade bauxite specification that will be carried in a separate hold in the same ship. This additional sale is a separate contract, but sold in short-time so as to utilise additional tonnage capacity in the ship, thus reducing shipping costs per tonne.

This multi-product, single-ship transport arrangement allows ABx to deliver bauxite of several specifications to separate customers and service each customer's specific grade requirements.

Mine Site Operations

Stornoway Projects Pty Ltd has carried out the specialist operations at the Bald Hill Bauxite Project mine site, including an important product assembly procedure that allows the blending of product to customer's specification. Bald Hill was the first new bauxite mine in Australia for more than 30 years.

Land Transport Arrangements

Dave Wagner & Son Pty Ltd has delivered the bauxite from the mine stockpile to port of Bell Bay ahead of schedule. Wagners transported the previous bauxite shipments and works well with all stakeholders.

Port Arrangements

QUBE Logistics at Bell Bay provides the stevedoring services and the stockpiling arrangements, in conjunction with TasPorts.

ABx considers this consistent handling to be the best way to assure tight quality controls that ABx wishes to be known for in the market. Inspections by two customers' agents confirmed this.

Our customers appreciate that:

ABx bauxite is the best favour they can do for themselves and their cement plant.

This sale is a continuation of ABx's ongoing business, which is due to be expanded by additional purchasing from several offshore centres, subject to appropriate currency exchange rates.

Fertiliser Sales Recommenced

ABx's sales into the fertiliser industry have recommenced over the past month and will continue at a low tonnage but continuous rate for he rest of the year.

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About Australian Bauxite Ltd

Australian Bauxite Ltd ASX:ABXAustralian Bauxite Limited (ABx) (ASX:ABX) has started its first bauxite mine in Tasmania and holds the core of the Eastern Australian Bauxite Province. ABx's 37 bauxite tenements in Queensland, New South Wales and Tasmania exceed 5,000 km2 and were rigorously selected for (1) good quality bauxite; (2) near infrastructure connected to export ports; and (3) free of socio-environmental constraints. All tenements are 100% owned, unencumbered & free of third-party royalties.

ABx's discovery rate is increasing as knowledge, technology and expertise grows.

The Company's bauxite is high quality gibbsite trihydrate (THA) bauxite and can be processed into alumina at low temperature.

ABx has declared large Mineral Resources at Inverell and Guyra in northern NSW, Taralga in southern NSW, Binjour in central QLD and in Tasmania confirming that ABx has discovered significant bauxite deposits including some of outstandingly high quality.

In Tasmania, at Bald Hill, the Company's first bauxite mine commenced operations on schedule on 9 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, which is emerging as a globally significant bauxite province. ABx has created significant bauxite developments 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.

 


Contact

Ian Levy
CEO and MD
Australian Bauxite Limited
T: +61-2-9251-7177
M: +61-407-189-122
E: corporate@australianbauxite.com.au



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