Australian Bauxite Ltd (ABx) has finalised a Heads of Agreement (HoA) with technology provider, Refined Ore Industries Ltd (ROIL), to produce aluminium fluoride from bauxite under the ALCORE project.
The ALCORE project is the development of bauxite beneficiation and refining technology to produce aluminium fluoride from bauxite.
Aluminium fluoride is used in aluminium production and in lithium ion batteries.
Over the past three years, ABx has assisted ROIL’s commercial and technological development and has subsequently been offered the licence from ROIL for the refining of bauxite, on the following terms:
- Exclusive global rights for the refining of bauxite, to produce aluminium fluoride (AlF3), and coproduct oxides of aluminium, silicon, iron, titanium from the bauxite.
- Production of Corethane Gas from the refining of coal to provide electrical power, heating and cooling for the bauxite refining plant so that is has energy security.
- Exclusive global marketing rights for all aluminium fluoride (AlF3) and related coproducts produced by other ROIL technology projects unrelated to ABx in Australasia and Asia.
ABx is to issue 1.4 million ABx shares to ROIL on completion of the full agreement.
Read the article online at: https://www.globalminingreview.com/exploration-development/15112017/australian-bauxite-and-refined-ore-industries-join-forces/