Railing Of Bauxite Resources Limited (ASX:BAU) Ore To Port Commences And Sales Contract Signed With Hongfan International Ltd For Spot Shipments
Perth, Oct 14, 2009 AEST (ABN Newswire) - The Board of Perth-based bauxite explorer and developer, Bauxite Resources Limited (ASX:BAU)(PINK:BXRDF) is pleased to announce that it has signed an FOB Sales Contract with Hongfan International Limited ("Hongfan") for three 40,000 tonne spot trial sample shipments of its premium run of mine (ROM) Darling Range low reactive silica bauxite.
Hongfan is part of a Chinese diversified group corporation integrating industrial investment, bulk commodity operations, mineral resource development, international investment and finance. As a producer of aluminium and a leading importer of bauxite, alumina and other minerals, Hongfan has interests in the manufacture of non-ferrous metals and is seeking to expand its interests in bauxite and alumina. Hongfan wishes to establish a long term working relationship with BRL. Specifically it wishes to source a long term supply of bauxite from BRL and establish strategic cooperation with a view to forming a long term relationship.
The Sales Contract is for three shipments of 40,000 dry metric tonnes of bauxite. It is expected that the shipments will occur in November 2009 and December 2009.
These spot shipments will enable BRL to showcase to Chinese alumina refineries the superior attributes of its premium Darling Range low reactive silica bauxite.
BRL believes that, the processing of its high grade bauxite with low reactive silica will be favourably received by the end user refineries and that this contract and trial shipments will be the precursor for larger off take agreements with Hongfan ,mineral traders and refineries based in China.
Railing of Ore to Port Commences
Contemporaneously with the signing of the Sales Contract, BRL today commenced operations to rail bauxite from its Darling Range North mine site to the Kwinana Port in preparation for shipping to meet the abovementioned sales contract.
TECHNICAL SPECIFICATIONS CONTAINED IN HONGFAN SALES CONTRACT (Note 1)
--------------------------------------------------------------------------------Chemical Composition(on a dry basis) "Layman's terms" Contract specifications Indicative--------------------------------------------------------------------------------Total Al203 Total alumina 48.00% minimum 50.00%Total SiO2 Total silica 7.00% max 6.50%ReSio2 (145 degrees Celsius) Reactive silica 3.00% max 2.50%Fe203 Iron Oxide 19.00% max 16.00%CaO Calcium Oxide 0.05% max 0.02%P2O5 Phosphorous Pentoxide 0.09% max 0.05%--------------------------------------------------------------------------------Physical Composition (on a natural basis)--------------------------------------------------------------------------------Size 90% passing 25mm, 75mm maxMoisture (free moisture loss at 105 degree Celsius,Free Moisture Content) 8% max--------------------------------------------------------------------------------
For the complete Bauxite Resources ASX Announcement, please click the link below:
http://www.abnnewswire.net/media/en/docs/61578-ASX-BAU-20091014.pdf
About Bauxite Resources Limited
Bauxite Resources (ASX:BAU) (OTCMKTS:BXRDF) was established with a substantial tenement holding in Western Australia to develop new bauxite supply for the global alumina/aluminium industry. The Company listed on the Australian Securities Exchange (ASX) in October 2007.
The Darling Range in the south-west of Western Australia (WA) is the world's largest bauxite mining and alumina refining region producing around 20% of the world's alumina. This area has mined bauxite and refined alumina since the 1960s. These industries are leaders in sustainable resource development and represent the fifth largest sector of WA's resource industry.
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