PERTH (miningweekly.com) – ASX-listed Australian Bauxite on Tuesday reported that its subsidiary ALCORE has secured the minimum funding required to start Stage 1 of the ALCORE project.
Site construction works started in July, as planned, at the pre-approved pilot plant site in New South Wales, for the production of aluminium fluoride samples.
“This is the beginning of a powerful new bauxite refining technology which will commence as an important supplier of key aluminium fluoride products for the Australasian aluminium smelters and producing silica fume for the cement industry, then develop Corethane pure hydrocarbons for energy and fuel security,” said Australian Bauxite CEO Ian Levy.
The ALCORE technology is designed to refine raw bauxite to produce aluminium fluoride and other valuable co-products from product supplied by Australian Bauxite.
The Stage 1 operation budget is set at A$2.5-million at the approved site, and will start with the production of aluminium fluoride test samples, and then the production of Corethane, which is pure hydrocarbon powder refined from low-value coals.
Stage 2 operation will consist of a 50 000 t/y production plant, which will cost about A$50-million to develop.
Levy said on Tuesday that upside potential included expanding the product range to aluminium fluoride for lithium-ion batteries, iron and titanium-based pigments, and then developing ultra-pure products such as high purity alumina for the manufacture of scratch-resistant sapphire glass for phones and computer screens.
“Australian Bauxite continues the development of its three core bauxite projects, namely the Tasmanian mine and the large Binjour project in central Queensland, and the Penrose refractory bauxite project 90 km inland of Port Kembla New South Wales.”
Levy said that creating ALCORE as a project-specific subsidiary was expected to unlock considerable value for shareholders in both the short and medium terms.