ABx Developing Plans for Sample Production of Aluminium Fluoride
12 December 2017 by Staff
Australian Bauxite Limited (ABx) updated its shareholders on ALCORE, the company’s project to refine aluminium fluoride (AlF3) from bauxite, via a press release published yesterday.
According to ABx, to date the firm has begun preliminary work towards the construction of an Engineering Validation Plant (EV Plant). The task, which is to be done in conjunction with Turnkey Innovative Engineering Pty Ltd (TKIE), is considered to be the project’s first stage and will begin production of large-tonnage bulk samples to be tested and evaluated by potential customers. TKIE anticipates presenting the engineering report, design, and lump-sum quotation by the end of next March, while the plant itself is expected to be constructed in the middle of next year.
Also in March the firm plans to finalize and announce financing plans for the project. ABx says three parties, whom they decline to name, have been in contact with the company and expressed an interest in funding the next stage of the project, which is the construction of a 50-thousand-tons-per-annum production plant. ABx has not committed to working with any party to date, but the firm says it will continue negotiations with the parties in question and the relevant government bodies in the coming year.
In addition to the funding offers, a second set of companies have discussed deals for the project’s secondary products, which are Corethane (which can be used as fuel for gas turbines) and Silica Fume (a micro-fine form of SiO2 often used in the production of high-strength concrete and cement). ABx says a potential benefit of partnering with an outside firm for the sale of Corethane is the possibility of producing its own energy, which has obvious benefits relating to overhead costs.
ABx CEO Ian Levy said that the developments, though just a start, represent a major step forward for the business.
“This is an exciting time for ABx’s business development. We are pushing ahead on all fronts as hard as possible and we are sincerely grateful for the offers for funds from supportive shareholders who appreciate the massive value addition to our normal bauxite business that will arise from an ALCORE development.
“However, there are a lot of moving parts yet to be finalised and ABx will remain frugal with shareholders’ funds until the ABx Board of Directors is satisfied that we have arrived at the best possible deal for our supportive shareholders.”
Based in Sydney, ABx conducts operations in Tasmania, Queensland, and New South Wales. The firm boasts combined JORC resources of 124 million metric tons in twenty-two tenements covering almost two thousand square kilometers in Eastern Australia. Its Binjour tenement in Queensland is considered by the company to be its flagship project.