25 Jun 2010
BAUXITE RESOURCES CONFIRMS PLANS FOR 2MTPA MINING OPERATION - WITHDRAWS PREVIOUS EPA APPLICATION AND EPA APPEAL
KEY POINTS:
• Bauxite Resources confirms details of its long-term mining strategy, based on realistic and sustainable operations.
• Company will apply to EPA to mine 2Mtpa of bauxite from North Bindoon, and will request full and public assessment.
• Based on the new application Bauxite Resources will withdraw its appeal on previous EPA decision and its application to undertake a 1.2Mt six month trial mining operation.
Australian resources company Bauxite Resources Ltd (ASX: BAU) (“BRL” or “the Company”) will apply to the Environment Protection Authority (EPA) for a two million tonne per annum (Mtpa) mining operation on private land north of Bindoon, Western Australia. The Board believes this new application to the EPA will enable it to meet its objective of becoming an economically sustainable bauxite mining company able to deliver shareholder value within an achievable timeframe.
BRL will immediately withdraw its previous application and its appeal against the EPA decision on level of assessment regarding its application to undertake a 1.2 million tonne (Mt) six month trial mining operation at Stephens road, north Bindoon. (Refer ASX announcement dated 12 April 2010).
The new application will include the bauxite that was previously requested for approval.
Bauxite Resources Limited Chairman, Mr Barry Carbon said, “Our plans are, and have always been, to develop BRL into a company built on a profitable long-term mining operation which we believe is reflected in the application we will make to the EPA.”
BRL has recommended to the EPA that this new proposal for ongoing mining be assessed at the high and public level of assessment with maximum transparency. The company will share its plans with the local community before submitting its application to the EPA.
“This realistic and sustainable approach should reduce the uncertainty on the time taken to obtain environmental assessment for a mining licence while seeking sufficient tonnage for a long term sustainable operation,” Mr Carbon added.
“Bauxite Resources believes this new strategy is both achievable and appropriate,” said Mr Carbon.
In addition to facilitating EPA approval, BRL’s current focus is also on the prompt appointment of an experienced and highly credentialed Managing Director. The Company looks forward to updating the market on this progress.
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For further information visit
www.bauxiteresources.com.au or contact:
Bauxite Resources Limited:
Mr Paul Fromson
Company Secretary
Tel:
Media:
James Harris
Professional Public Relations
T: +61 8 9388 0944
File Download: ASX Release - Long term mining plans 20100625.pdf
