THE BOURSE WHISPERER: Australian Bauxite (ASX: ABX) has been granted its first mining lease, ML1961 at its Bald Hill project in Northern Tasmania by the State’s Minister for Resources, Paul Harriss.
The company said a Development Proposal and Environmental Management Plan has been lodged with the Environmental Protection Agency and is being sent to local councils to be advertised and placed on public display for 28 days.
Once this process is concluded, a Development Approval can be granted and the operations can commence, which the company expects to commence late this year.
ABX has delineated two further mines in northern Tasmania at Fingal Rail & DL-130 prospect.
Locations of projects in Tasmania. Source: Company announcement
The development of these Tasmanian projects is being overseen by the company’s chief operating officer Leon Hawker.
“This is the first new bauxite mine in Australia for over 35 years and will introduce a new bauxite supply into the seaborne bauxite market,” Hawker said in the company’s announcement to the Australian Securities Exchange.
“We look forward to continuing and further developing the relationships that have been built in Tasmania.
“I particularly wish to acknowledge the work undertaken and the support of the Mineral Resources Tasmania, a division of the Department of State Growth and the EPA and recognise the strong community support we enjoy.”