Letter of Intent with Aziz Group Bangladesh
Sydney, July 18, 2018 AEST (ABN Newswire) - Australian Bauxite Limited (
ASX:ABX) (ABx) is pleased to advise that Australian Bauxite Limited and Aziz Group of Bangladesh have successfully negotiated a Letter of Intent (LOI) over two important opportunities for bauxite sales and future business development.
Chemical Grade Bauxite
ABX have agreed to develop and supply Chemical Grade Bauxite for the manufacture of PAC (Polyaluminum Chloride) to be used in the treatment of industrial waste water.
Aziz Group are a chemical manufacturing, trading and marketing company in Bangladesh involved in a variety of chemical manufacturing industries and a long-established trading house with a broad base of customers and relationships.
Industrial waste water is a significant issue for Bangladesh industry and communities with large volumes of waste water needing to be treated and returned to the environment.
Australian Bauxite CEO, Mr. Ian Levy said; "We are delighted to be involved in this significant opportunity that will have a positive impact on the communities of Bangladesh, utilizing our bauxite which is known for its clean character and being free of deleterious elements. We also have a wide range of grades of bauxite to supply, including our Penrose bauxite which is more than 55% Al2O3 and very low in iron content."
Cement Grade Bauxite
Australian Bauxite Limited will be appointing Aziz Group of Bangladesh to be the ABx agent for marketing ABx Cement Grade Bauxite to Bangladesh.
The Bangladesh Cement Industry is undergoing significant growth and an excellent opportunity exists for ABx's ultra clean and cement specific Cement Grade Bauxite to provide a perfectly balanced blend of Aluminum, Iron and Silica to assist the Bangladesh Cement Industry produce high late strength cement.
CEO of Aziz Group Mr. Johnny Chowdhury said; "There is a real opportunity for our wellestablished trading and manufacturing relationships to be of significant support in the marketing of this specialized ABx Cement Grade Bauxite. We look forward to jointly developing a good market base for real supply opportunities."
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About ABx Group Limited
ABx Group Limited (ABx) (ASX:ABX) started as a bauxite miner in Tasmania in 2014 & controls the Eastern Australian Bauxite Province. In 2020 to 2023, ABx also discovered Australia’s only true ionic adsorption clay Rare Earth Elements resource at Deep Leads in pine plantations 40km west of Launceston with a JORC-compliant resource of 89 million tonnes from only 29% of the mineralised outline, averaging 844 ppm total rare earth oxides that is the most enriched in the critically important rare earths, Dy and Tb, of any Australian REE deposit.
ABx has also developed a proprietary technology to produce fluorine chemicals from an aluminium smelter waste product and return the fluorine back into the smelters, thus reducing reliance on imported aluminium fluoride.
ABx has committed a large proportion of its expenditure into Research and Development and has found ways to capitalise on the main strengths of its bauxite type which is very clean, free of all deleterious elements and can be separated into different product streams using physical, chemical and geophysical methods. It has produced and marketed specialist bauxite products for the manufacturers of fertiliser, cement with high late strength for major infrastructure such as bridges and is in the advanced stages of approvals for production of metallurgical bauxite from its Binjour Bauxite deposit with JORC-compliant resources of 37 million tonnes of bauxite, in a joint development with a Chinese-focussed Australian trading company Good Importing International.
ABx is also preparing to produce fertiliser grade and cement grade bauxite from its DL130 bauxite quarry in northern Tasmania, 40km west of Launceston. This quarry is sited in the middle of the large Deep Leads REE deposit and may one day be a site for heap leaching of the REE using a low-cost, benign leachate with the same acidity as apple juice or tea.
ABx endorses best practices on agricultural land, strives to leave land and environment better than we find it. We only operate where welcomed.
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