Total
0
Shares
Australian Bauxite (ASX:ABX) - CEO, Ian Levy
CEO, Ian Levy
Sourced: The Pick
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Australian Bauxite (ABX) has been chosen by an undisclosed customer to supply 35,000 tonnes of cement-grade bauxite
  • The bauxite will be sourced from the Bald Hill Bauxite Project in Northern Tasmania
  • ABX is negotiating with contractors to accelerate production, capitalise on current low fuel costs and to increase local employment in the upcoming quarters
  • Company shares are down 4.60 per cent and trading for 8.3 cents each

Australian Bauxite (ABX) has been chosen by an undisclosed customer to supply 35,000 tonnes of cement-grade bauxite from its Bald Hill Bauxite Project.

The Bald Hill Bauxite Project is located in Campbell Town, Northern Tasmania. The project is conveniently situated near infrastructure and export ports.

The company has been working with the customer to achieve the optimum product specifications to the customer’s satisfaction.

“Our bauxite is blended to suit our cement-grade bauxite customer’s requirements for very clean bauxite by efficient production and careful transport pit-to-port,” Marketing Manager Paul Glover said.

ABX is currently negotiating with contractors for mining, transport and port services to accelerate production, capitalise on current low fuel costs and to increase employment in northern Tasmania in the upcoming quarters.

If the final port stockpile can be collated, the customer would be able to take it when a low-cost shipping opportunity arises.

The company is particularly pleased that sales of fertiliser-grade bauxite are growing as the rural industry’s demand for granulated superphosphate fertiliser increases.

Port contracts

ABX has contracted with QUBE Ports at Bell Bay for stevedoring. Monson Shipping will provide Shipping Agents services and Briar Maritime independent ship surveys. Negotiations with Tasmanian Ports are underway and the company hopes early production leads to mutual benefits.

“We have secured working capital finance for this early production strategy and we have a production team that is renowned for on-time, on-specification delivery of bauxite blended to our customer’s requirements,” Chief Operating Officer Leon Hawker said.

“We can ship efficiently from Bell Bay Port — an all-weather, 24/7 export port that can operate to high standards and good loading rates all year round,” he added.

Company shares are down 4.60 per cent and last traded at 10:21 am for 8.3 cents each.

ABX by the numbers
More From The Market Herald
Global Lithium Resources (ASX:GL1) - Exploration Manager Bryan Bourke (second from the right)

" Global Lithium Resources (ASX:GL1) completes drilling at Twin Veins prospect

Global Lithium Resources (GL1) is providing an exploration update, revealing it has wrapped up drilling at the Twin Veins

" Shree Minerals (ASX:SHH) identifies lithium pegmatite potential at Dundas

Shree Minerals (SHH) has identified potential for lithium-bearing pegmatites at the Dundas project in Western Australia.
Tombola Gold (ASX:TBA) -

" Tombola Gold (ASX:TBA) kicks off mining

Tombola Gold (TBA) has kicked off mining activities, including the first drill and blast, at the Comstock Gold Mine in Queensland.

" Anson Resources (ASX:ASN) grows Paradox Brine Project area by 20pc

Anson Resources (ASN) has staked a further 228 strategic claims adjacent to the Paradox Brine Project in Utah.