THE BOURSE WHISPERER: Australian Bauxite (ASX: ABX) has concluded its first sale of bauxite from the company’s Bald Hill mine in Tasmania with the maiden shipment of 5,557 tonnes of cement-grade bauxite from Bell Bay Port.
Bald Hill is the first new bauxite project in Australia for more than 35 years.
ABx said its customer is seeking a second, larger shipment of 30,000 to 40,000 tonnes once the large stockpile warehouse in the receiving port is approved and ready to receive bauxite.
This is anticipated to occur within two months.
“The bauxite is in perfect condition for our bauxite cement customer,” Australian Bauxite logistics manager Paul Glover said in the company’s announcement to the Australian Securities Exchange.
“It is even grained, dry, dust-free and exceptionally clean due to rigorous processing by Stornoway contractors at Bald Hill mine, careful transport pit-to-port by TasRail and professional port handling by QUBE Ports.
“This, combined with excellent chemistry makes our bauxite ideal for a range of customers, several of which have recently requested samples from us for testing.”
The company highlighted its intentions to continue with its plan to use sales revenues, rather than capital raisings to fund growth, including R&D into TasTech technology which allows ABx to separate Tasmanian bauxite into the three constituent product-types:
1. High grade, ultra-cleaned metallurgical-grade bauxite for the aluminium industry;
2. Cement-grade bauxite for the manufacture of certified, high specification cement; and
3. Fertiliser-grade bauxite for the fertiliser industry.