Australian Bauxite strikes offtake deal for Bald Hill bauxite

THE BOURSE WHISPERER: Australian Bauxite (ASX: ABX) has been offered a Long Term Offtake Agreement for bauxite from the company’s first bauxite operation planned at Bald Hill, near Campbell Town, Northern Tasmania.

“Our objective has always been to find a compatible, supportive off-take partner so as to maximise the blending opportunities for our bauxite and to create a market niche that we can supply successfully for many years,” Australian Bauxite CEO Ian Levy said in the company’s announcement to the Australian Securities Exchange.

“This off-take agreement will allow us to develop the project and satisfy this market niche simultaneously – something we probably could not do alone during the ramp-up to steady-state production.

“We are now ramping-up railings of bauxite product from stockpiles at the mine to Bell Bay export port so as to ship our first shipment of bauxite into China later this quarter.”