Queensland Bauxite Gains State Approval of Mineral Development Work Program
11 September 2017 by Staff
Australian miner Queensland Bauxite announced last Friday that it has obtained approval from the state government to begin development work at its South Johnstone Bauxite Project at Camp Creek.
The firm said that Queensland’s Department of Natural Resources and Mines (DNRM) and Department of Environmental and Heritage Protection (DEHP) signed off on an amendment to its previously-granted Environmental Authority. The new paperwork grants QBL the right to commence development of the project according to the work program outlined in the Mineral Development License and likely portends good news for its still-pending application for a MDL over the area.
QBL says that the firm will continue processing paperwork to obtain a Mining Lease for the area while it awaits news of the Mineral Development License, which they believe will be granted within the next several weeks.
The firm has high hopes for the bauxite play, as it is believed that the ore is relatively shallow. In addition, a rail line passes through the project, and the area is near a main highway that leads to a port with easy access to lucrative Asian markets. QBL expects that the necessary capital expenditure will be in the neighborhood of A$5 million (US$4 million), with a projected operating expenditure of A$20.87 (US$16.79) per metric ton FOB Mourilyan Harbor. The firm expects the project to be a long-term endeavor that will operate at minimal cost for the life of the project.
Queensland Bauxite Limited, based in Bondi, New South Wales, seeks high quality gibbsitic bauxite with a low reactive silica content, and has interests in the North Queensland Bauxite Project, the New South Wales Bauxite Project, Mozambique exploration licenses, and the Pilbara Gold Project, among others. The firm also has a majority stake in an Australian hemp and medical cannabis operation.