Australian Bauxite Limited (ABX) has announced plans to go ahead with its proposed mine between Gayndah and Mundubbera.
The company told the Australian Securities Exchange today it will lodge a mining lease application early next year.
If approved, unrefined bauxite will be shipped from the Port of Bundaberg in bulk tonnages.
“A mining lease application will be lodged in early 2020, commencing with pre-lodgement discussions with government departments as soon as practicable,” the company said.
“Binjour Project is fully funded by ABX’s marketing partner, Rawmin Mining of India.
“Initial production for the first 10 to 15 years will focus on high-grade zones that require little processing.”
ABX has a memorandum of understanding (MOU) with the Port of Bundaberg to investigate the opportunity to export bauxite in bulk tonnages through the Port of Bundaberg.
“Unlike other Queensland bauxite, Binjour bauxite is ideal for low-temperature alumina refineries being high grade, low silica and carbon-free,” the company said.
“Since discovery in 2010, ABX has worked with landholders, local and state government, port authorities, operator and logistics contractors, market specialists and customers to develop an optimum strategy for the Binjour Project.
“The plan is to produce high-quality metallurgical-grade bauxite exported in large bulk carrier ships from the Port of Bundaberg.
“The plan also leaves the land better than we find it.”
ABX’s marketing partner, Rawmin Mining of India, has agreed to fund all pre-production and working capital costs for the Binjour Bauxite Project and will be entitled to a 50 per cent joint venture interest. ABX will be the project operator.
Company directors met with Bundaberg Regional Council's CEO, Steve Johnston, and economic development executive, Ben Artup, last week.
“Work now needs to continue on upgrading the region's roads to ensure commodities like this can get to Bundaberg Port,” Mr Artup said.
“Council was recently awarded two grants to upgrade regional bridges under the Bridges Renewal Program.”