Prospective investors in Australian Bauxite’s three state significant projects within the eastern bauxite province will be given access to the company’s new virtual data room to aid their knowledge of the sites.
The data room is currently open to six international groups and their advisors, who are investigating the ABx opportunity, be it at tenement, project, subsidiary or company level. Site visits are also ongoing at each of the company’s projects.
Fourteen drill holes have just been completed at the central Queensland Toondoon site with assay results forming part of the due diligence and maiden inferred resource estimate of 3.5 million tonnes of bauxite.
“Establishing the resource size provides the consideration for concluding final agreements to purchase the mining lease and commence early mine production to supply the buoyant bauxite market,” says ABx chief executive officer Ian Levy.
“The discovery of a good bauxite deposit on this mining lease is one of the final jigsaw pieces in establishing the first modern bauxite business in Australia since the 1960s. Production from this mining lease may commence early and kick-start the large Binjour project several years earlier than we previously thought.”
Located 25km south of regional centre Mundubbera, the Binjour project site is in an area of major steel fabrication and heavy machinery workshops as well as highly experienced contractors in earth moving, mining, transport and construction. The North Burnett region has rural infrastructure, with regional highways passing through the bauxite areas, connecting to an export port at Bundaberg, which has ample spare port capacity.
Gladstone is a major bauxite processing centre with two alumina refineries and an aluminium smelter, as well a major mineral port (coal, bauxite, coal seam gas, chemicals) that services Queensland Alumina Limited (QAL), Yarwun alumina refineries and Australia’s largest aluminium smelter at Boyne Island.
The ABx bauxite project areas in central Queensland are supplied with power, water, communications and transport infrastructure, near well-serviced industrial centres and near to two efficient export ports that operate all year round without seasonal interruptions.
The company is fast tracking development of its Goulburn project in New South Wales and the Tasmanian deposits to begin exporting bauxite from Port Kembla and Tasmania’s Bell Bay port during 2013.