EFIC loan facility approved
Released
Released
Announcement PDF
ASX ANNOUNCEMENT
26 October 2015
AUSTRALIAN BAUXITE LIMITED
ASX: ABX
About Australian Bauxite Limited
ASX Code ABX
Australian Bauxite Limited (ABx) has started its first
bauxite mine in Tasmania and holds the core of the
Eastern Australian Bauxite Province. ABx’s 37 bauxite
tenements in Queensland, New South Wales &
Tasmania exceed 5,000 km2 and were rigorously
selected for (1) good quality bauxite; (2) near
infrastructure connected to export ports; & (3) free of
socio-environmental constraints. All tenements are
100% owned, unencumbered & free of third-party
royalties.
ABx’s discovery rate is increasing as knowledge,
technology & expertise grows.
The Company’s bauxite is high quality gibbsite
trihydrate (THA) bauxite & can be processed into
alumina at low temperature – the type in shortsupply globally.
ABx has declared large Mineral Resources at
Inverell & Guyra in northern NSW, Taralga in
southern NSW, Binjour in central QLD & in
Tasmania confirming that ABx has discovered
significant bauxite deposits including some of
outstandingly high quality.
In Tasmania, at Bald Hill, the Company’s first
bauxite mine commenced operations on schedule
on 9 December 2014 – the first new Australian
bauxite mine for more than 35 years, with first two
shipments targeted for 2015.
ABx aspires to identify large bauxite resources in
the Eastern Australian Bauxite Province, which is
emerging as a globally significant bauxite province.
ABx has created significant bauxite developments in
3 states - Queensland, New South Wales and
Tasmania. Its bauxite deposits are favourably
located for direct shipping of bauxite to both local
and export customers.
ABx endorses best practices on agricultural land,
strives to leave land and environment better than
we find it.
We only operate where welcomed.
Directors / Officers
Paul Lennon
Chairman
Ian Levy
CEO & MD
Ken Boundy
Director
Leon Hawker
Rob Williams
Jacob Rebek
Henry Kinstlinger
Julian Rockett
Chief Operating Officer
General Manager
Chief Geologist
Secretary
Secretary
EFIC loan facility approved
Australian Bauxite Limited (ASX: ABX) advises it has
concluded a finance facility with Efic, Australia’s
export credit agency.
The facility will provide Australian Bauxite financial
assistance to meet transport costs associated with
its initial bauxite shipments.
Ian Levy, CEO said, “Efic’s facility will enable
Australian Bauxite to apply its cash reserves toward
accelerated production following the unseasonal
harsh winter.
“Warmer spring weather conditions are allowing
our team to catch up lost winter production.
“Shipping tenders have been received and the
contract is about to be placed.”
About Efic
As Australia’s export finance agency, Efic is
committed to unlocking finance for export success.
Efic is a specialist financier that delivers simple
and creative solutions for Australian SMEs to
enable them to win business, grow internationally
and achieve export success.
Through its loans, guarantees, bonds and
insurance products, Efic has helped many
Australian SME exporters and subcontractors take
advantage of new contract opportunities that may
otherwise have been out of reach.
For further information please contact:
Ian Levy, CEO and MD
Australian Bauxite Limited
Telephone:
+61 (0) 2 9251 7177
Mobile:
+61 (0) 407 189 122
ASX Symbol: ABX
Latest News: www.australianbauxite.com.au
AUSTRALIAN BAUXITE LIMITED
ACN 139 494 885
Level 2 Hudson House 131 Macquarie Street Sydney NSW 2000
p: +61 2 9251 7177
f: +61 2 9251 7500
w: australianbauxite.com.au
e: corporate@australianbauxite.com.au
Share your feedback
Discover