2017 Annual Report
Sydney, Mar 29, 2018 AEST (ABN Newswire) - Australian Bauxite Ltd (
ASX:ABX) provides the Company's 2017 Annual Report.
REVIEW OF OPERATIONS
This Review of Operations covers the 12 month period to 31 December 2017.
Australian Bauxite Limited (ABx or the Company) is an emerging bauxite producer and exploration company listed on the Australian Securities Exchange (ASX) on 24 December 2009. Its ASX code is ABX.
ABx currently holds 18 bauxite tenements in New South Wales, Queensland and Tasmania covering 1,390 km2 and operates its first mining operations at the Bald Hill bauxite project in Tasmania - see maps on cover. ABx's bauxite is high quality gibbsite trihydrate (THA) bauxite that can be processed into alumina at low temperature- the type in short supply globally. It is a bauxite free of quartz, alkalis and base metals, making it also ideal for cement-making. Some zones of grey-white bauxite may be suitable for manufacture of refractories, abrasives and chemicals.
ABx's bauxite is ideal for upgrading into high value products and ABx has been carrying out research and development of two new technologies, namely TasTech physical upgrading and ALCORE chemical upgrading.
ABx has declared JORC compliant Mineral Resources totalling 124.8 million tonnes (inferred 59.2 Mt, indicated 65.6 Mt - see resource statement in ASX release 25 August 2016) in New South Wales mainly around Taralga-Goulburn-Penrose inland from Port Kembla, a major deposit at Binjour in central Queensland inland from Bundaberg Port and in northern Tasmania extending from Campbell Town to Bell Bay in northern Tasmania. All tenements are 100% owned, unencumbered and free of third party royalties.
During 2017, ABx made sales in excess of 38,000 tonnes of bauxite from the Bald Hill operations in Tasmania, which commenced in December 2014 as Australia's first new bauxite production project for more than 35 years.
To view the full report, please visit:
http://abnnewswire.net/lnk/MXMR6I06
About ABx Group Limited
ABx Group Limited (ABx) (ASX:ABX) is a uniquely positioned Australian company delivering materials for a cleaner future.
The three priority projects are:
- Heavy rare earths: Supplying light and heavy rare earths from Tasmania into Western supply chains
o Processing Options Analysis conducted in partnership with external experts
- Clean fluorine chemical production: Producing industrial chemicals from aluminium smelter by-product (ALCORE)
o Continuous pilot plant under construction in Bell Bay, Tasmania
- Near-term bauxite production: Mining bauxite resources for the aluminium, cement and fertiliser industries
o Agreements executed with Good Importing International for bauxite projects in Queensland and New South Wales, and $2.7 million initial payment has been received
o Approvals well advanced for DL130 bauxite project in northern Tasmania
ABx endorses best practices on agricultural land and strives to leave land and environment better than we find it. We only operate where welcomed.
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