Australian Bauxite Limited announced its second sale yesterday, completing a deal for 5,000 metric tons to the same unidentified purchaser as the initial sale made in April.
This is the second sale from the firm’s Bald Hill mine in Tasmania. Bald Hill is the first new bauxite project in that country in three-and-a-half decades. ABx’s sale is for cement-grade bauxite, which the purchaser intends to use to replenish its short-term stockpile at its plant. The purchaser is constructing a larger bauxite storage facility at the present time according to ABx.
“ABx is pleased to get the repeat order from its first customer and to have its bauxite approved by another potential major customer,” said ABx’s CEO Ian Levy. “These are 3rd party verifications of our bauxite’s suitability for making high quality cements.”
“These sales could not have happened without the early preparations in 2014 and 2015 by our marketing team, comprising COO, Leon Hawker and Logistics Manager, Paul Glover, both of whom have more than 40 years of senior experience in commodities marketing,” he concluded.
This second sale is much like ABx’s first sale, which shipped late in April of this year. According to ABx, a third sale of between 25,000 and 30,000 metric tons is imminent.
The firm went on to say that its bauxite has met quality requirements for purchase by “a major Middle East Cement Company.” ABx said it is preparing a joint offer along with Rawmin Mining And Industries Pvt. Ltd. (Rawmin) of Mumbai to “ship large tonnages” to the Mideast in the near future.
The firm initially had difficulty selling the 120,000 metric tons of bauxite they extracted from their mine in Campbell Town, Tasmania, last year. AB had a sale lined up with a Chinese buyer for the Bald Hill mine bauxite until December, when the aluminium market fell, taking bauxite prices with it.