R4Rm and many others in the North Bindoon community have reason to celebrate with the announcement today. See below…
Bauxite Resources Limited (ASX: BAU) (“BRL” or “the Company”) today announces that its joint venture with Yankuang, Bauxite Alumina Joint Ventures (“BAJV”), has withdrawn its Environmental Protection Authority (“EPA”) referral for its Mining Proposal at North Bindoon (“North Bindoon Referral”). The North Bindoon Referral anticipated a mining operation of up to 2 million tonnes per annum of bauxite over a 5 year period.
BAJV was formed in April 2011 as a joint venture between BRL and Yankuang Group and had been carrying out various baseline studies for the Public Environmental Review before submission of the North Bindoon Referral to the EPA. After extensive assessment it was considered that, given the large scale of its other resource deposits in the Darling Range, BAJV would withdraw the North Bindoon Referral and concentrate on these other resource development opportunities within the Darling Range.
BAJV has over the past 12 months rationalised its exploration and development focus resulting in more than 3,000km2 being relinquished.
The BAJV is now concentrating on its more prospective areas in pursuing the objectives of the joint venture. The North Bindoon Referral pre-dates the formation of the BAJV which was formed with the objective of establishing both bauxite mining and alumina refining of its bauxite interests. BAJV’s withdrawal of the North Bindoon Referral will not affect the current development plans or current bauxite resource of BRL and its joint venture partners, which now exceeds 250 million tonnes*.
Commenting on the BAJV’s decision to withdraw the North Bindoon Referral, BRL CEO Peter Canterbury said, “Since the EPA application was lodged in 2010, BRL and our JV partners have proved up significant bauxite resources in the Darling Range. These additional resources provide the Company and its Joint Venture partners a range of attractive opportunities for development. They have in no way been affected by the decision to withdraw the EPA referral for the North Bindoon mining proposal. We would like to thank the landowners who have been involved in the proposal and the members of the community who have provided input during consultation.”
