Quarterly Report
Sydney, Oct 31, 2018 AEST (ABN Newswire) - Australian Bauxite Ltd (
ASX:ABX) provides the Company's Quarterly Report.
Corporate
- Group available cash at the end of the quarter was $1.74 million and now stands at about $2.2 million
Sales & Operations
- Sales in the quarter totalled 978 tonnes as part of regular sales of fertiliser grade bauxite
- A letter of intent to supply chemical-grade bauxite was signed for treatment of industrial waste water in Bangladesh
- A tender submission for a cement-grade bauxite shipment was completed and samples of a suite of products provided for customer assessment
Bauxite Refining Technology
- ABx incorporated ALCORE Limited as a wholly owned subsidiary to fund and manage the ALCORE Project, leading to the construction of an ALCORE Production Plant to produce Aluminium Fluoride (AlF3) & valuable co-products
- ALCORE technology is used to beneficiate and refine raw bauxite with a market price of $50 into high-value products worth more than $US 800 per tonne, including:
a. Aluminium Fluoride (AlF3) used as an electrolyte for aluminium smelters & lithium ion batteries;
b. Silica fume for our cement industry customers and manufacturers of low-CO2 geopolymer cement;
c. Corethane which is an ultra-pure hydrocarbon that can substitute for natural gas for electricity and industrial heat generation and can be used for metallurgical use and brickmaking; and,
d. Refractory-grade bauxite & potentially high purity alumina (HPA) for making scratch-resistant sapphire glass.
- ALCORE will be the first Australian supplier of AlF3 to the Australasian Aluminium Smelters
- Funding is in place to complete Stage 1, scheduled to take 3 months for final design (now completed), 1 month for final permitting, followed by 3 months construction and up to 5 months of production.
- ALCORE completed on schedule, the design of the Stage 1 plant the ALCORE Research Centre at Berkeley Vale on the NSW Central Coast and has now acquired the required equipment
- Production of AlF3 test samples could commence before year-end, well ahead of schedule
- Once sufficient AlF3 is produced for rigorous testing, the pilot plant will test the production of Corethane, which will provide the fuel for heat and electrical power for the ALCORE Production Plant and will also demonstrate its use as a gas-substitute in gas turbine electrical generators and its use as a diesel substitute for fuel security purposes. Corethane has significant energy and industrial potential
- ALCORE technology is relatively low-risk because it operates at ambient temperatures and pressures
- The ALCORE business plan targets long-established, broad industrial markets with many potential buyers
- Subject to regulatory, statutory and shareholder approvals as required, the ALCORE project is holding discussions with governments, agencies and companies that have showed strong interest in both AIF3 and the main co-products, Corethane and silica fume.
To view the full report, please visit:
http://abnnewswire.net/lnk/K7I24N46
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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