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Bauxite Resources

Bauxite Resources non-executive director steps down

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Bauxite Resources (ASX:BAU) non-executive director John Sibly will step down from his position with effect from the annual general meeting, which is scheduled for November 2014.

A former Alcoa senior executive, Sibly has been a director for nearly four years and has used his understanding of the aluminium industry to help guide the company.

Last month, the company increased resources at its Felicitas bauxite deposit in the Darling Range, Western Australia, to 227.9 million tonnes (unbeneficiated), at 39.7% Al2O3 (total), 31.3% Al2O3 (available at low temperature) and 2.0% SiO2 (reactive).

About 88% of this is in the Indicated and Measured categories.

This is the largest single bauxite resource in Australia outside of current producers.

Felicitas is located about 60 kilometres north east of Perth and to existing rail infrastructure providing a direct link to Kwinana Port approximately 120 kilometres away.

It is contained within the company’s Bauxite Alumina Joint Ventures (BAJV) joint venture with Yankuang Resources Ltd.

 

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Quick facts: Bauxite Resources

Price: $0.04

Market: ASX
Market Cap: $9.22 m
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