PERTH (miningweekly.com) – ASX-listed junior Australian Bauxite has inked a heads of agreement (HoA) with technology provider Refined Ore Industries (ROIL) to produce aluminium fluoride from bauxite.
Under the terms of the HoA, Australian Bauxite will have exclusive global rights to produce aluminium fluoride from the ALCORE project, which will apply ROIL’s patented ores-to-elements (CORE) process, which refines various types of ores using a combination of fluorine acids and related thermal energy process steps.
Australian Bauxite will also have the right to produce corethane gas from the refining of coal, to provide electrical power, heating and cooking for the bauxite refining plant, while also having exclusive global marketing rights for all aluminium fluoride and related co-products produced by other ROIL technology projects, unrelated to Australian Bauxite, in Australia and Asia.
In exchange, Australian Bauxite will issue 1.4-million of its own shares to ROIL.
Australian Bauxite told shareholders on Monday that the ALCORE project would be developed in two stages, with Stage 1 consisting of an engineering evaluation plant, which would likely cost between A$12.5-million and A$16-million.
The Stage 2 operation would consist of a 50 000 t/y production plant, which would cost about A$50-million to develop.
A bankable feasibility study for the plant is expected by the end of the first quarter of 2019, with commissioning to take place by the end of 2019.
Australian Bauxite said the ALCORE technology would add between $600/t and $1 000/t in value to the bauxite produced by the company.
Edited by: Mariaan Webb
Creamer Media Senior Deputy Editor Online
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