Bauxite Resources launches scoping study at Fortuna
PERTH (miningweekly.com) – ASX-listed junior Bauxite Resources has launched a scoping study on its Fortuna direct shipping ore bauxite project, in Western Australia.
The scoping study would investigate a mine-to-port development to support a three-million-tonne-a-year operation at Fortuna, and would likely be completed in September this year, Bauxite Resources stated on Tuesday.
The company was also undertaking a high-level market evaluation to identify possible end-users for the Fortuna bauxite, and was currently in discussions with landowners to convert properties from exploration access agreements to mining agreements.
“With Western Australia currently the largest bauxite producing region in the world, and logistically well placed to supply increasing demand from China following the recent Indonesian bauxite export ban, we are very keen to press ahead strategically with the development of our Western Australian bauxite projects and allow our shareholders to benefit from the rising bauxite price and favourable global market conditions,” said Bauxite Resources CEO Peter Canterbury.
He noted that the company would continue to engage with offtake and possible development partners to assist in the commercialisation of its resources.
“It is a priority of the company to develop this 100%-owned resource either through direct development or a joint venture partnership with potential end-users as part of unlocking value in the company’s bauxite assets for our shareholders,” Canterbury noted.
The Fortuna project covers some 658 ha, and currently has an inferred Joint Ore Reserves Committee-compliant resource of 39.5-million tonnes, grading 37.3% bauxite.
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