New bauxite mine puts Tasmanian mining on the map yet again.
ASX-listed junior mining company Australian Bauxite, this week announced it is in negotiations with interested investors to finance its Bald Hill mine in Tasmania.
As with most negotiations, the current focus is on clarifying the key terms for a number of agreements on offer.
In September 2014, Australian Bauxite was awarded its first ever mining lease for the Tasmanian Bald Hill mining project. Keeping in line with government regulations, an environmental management plan was also lodged with the Environmental Protection Agency.
The company, which remains quietly confident about the next phase, told shareholders that suitable funding arrangements would be secured in line with the completion of the management plan review, and the commencement of mining at the site.
Mining operations are expected to kick off in late 2014, using a host of contractors which Australian Bauxite have been reviewing, creating a short-list of suitable partners to operate the mine’s screening and transport operations.