Bauxite Resources Limited
Bauxite Resources Limited has tenements in the highly prospective Darling Range, Western Australia, which is the largest producing alumina region in the world. As at 30 September 2008, Bauxite Resources Limited (BRL) has 47 tenement licenses, 3 granted and 44 in application. Tenements and applications now cover over 8,631km2 (approx) of the highly prospective bauxite ground which includes the world class bauxite production region of the West Australian Darling Ranges. Historical data review now completed, target generation phase well advanced. Target generation and evaluation phase commences.
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Bauxite Resources jumps after sealing China sales deal
Bauxite Resources (ASX:BAU) has sealed a sales contract with Hongfan International for three 40,000 tonne spot trial sample shipments of its premium run of mine Darling Range silica bauxite.
In response to the announcement, shares in Bauxite Resources jumped 6c, or 5.3 per cent, to $1.19.
Under the terms, Bauxite Resources will ship three loads of 40,000 dry metric tonnes of bauxite, with shipment expected to occur in November and December.
The company also announced it had commenced operations to rail the material from its Darling Range mine to the Kwinana Port to meet the new contact.
The shipments will enable BRL to showcase its wares to Chinese alumina companies.
The company believes the processing of its high-grade bauxite with low reactive silica will be favouably received and the precursor for larger off-take agreements with other mineral traders and refineries in China.
Hongfan is part of a Chinese diversified group coorporation integrating industrial investment, bulk commodity operations, mineral resource development, international investment and finance.
As a producer of aluminium, bauxite, alumina and other materials, Hongfan has interests in the manufacture of non-ferrous metals and is seeking to expand its interests in those areas.
Bauxite said Hongfan intended to establish a long-term working relationship with the company.
