Australian Bauxite Limited (ABx) announced to the market yesterday that it has signed a letter of intent with Aziz Group of Bangladesh to explore sales of bauxite ore and business development opportunities involving both chemical-grade and cement-grade bauxite.
Per the press release, ABx will supply chemical-grade bauxite to Aziz Group for the production of polyaluminum chloride (PAC), which is a chemical commonly used for the treatment of industrial waste water.
Additionally, ABx has agreed to assign Aziz Group its agent for marketing of cement-grade bauxite in Bangladesh. ABx says the country’s cement industry is currently growing at a tremendous rate, opening an opportunity for the firm to provide clean and cement-specific bauxite that offers an optimum blend of aluminium, iron, and silica. This blend, says the firm, yields high late-strength cement, which is ideal for the country’s continuing and growing need.
Aziz Group’s CEO Johnny Chowdhury hailed the agreement as beneficial for both companies.
“There is a real opportunity for our well-established trading and manufacturing relationships to be of significant support in the marketing of this specialized ABx Cement Grade Bauxite. We look forward to jointly developing a good market base for real supply opportunities.”
Ian Levy, ABx’s CEO, reflected Chowdhury’s sentiments, noting the favorable qualities of his firm’s bauxite ore.
“We are delighted to be involved in this significant opportunity that will have a positive impact on the communities of Bangladesh, utilizing our bauxite which is known for its clean character and being free of deleterious elements. We also have a wide range of grades of bauxite to supply, including our Penrose bauxite which is more than 55% Al2O3 and very low in iron content.”
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.