Tenements are in world class bauxite production province of the Cape York Peninsula in Queensland and Northern Territory
Tenements total about 2,000 square kilometres of which 70 square kilometres classified asMining Leases and 382 square kilometres as granted Exploration Permits
Skardon River project is located close to Port of Skardon, a declared international port and 10 kilometres from open sea while road haul distances for bauxite will not exceed 18 Kilometers
JORC compliant resources estimation in excess of 50 million tonnes on Skardon River leases with potential for over 200 million tonnes of bauxite in total on all tenements
Skardon River’s rich alumina content averages 52% and a relatively low average reactive silica content of 5.6%
Skardon River bauxite is primarily gibbsite with low temperature processing qualities and is all located close to surface enabling open cut mining
Independent prefeasibility study for Skardon River project was completed and Directors decision has been made to advance the project to bankable feasibility status with plant construction and start up expected to commence 2012-2013
Joint Venture agreement effected in 2009 with the lease holder securing the Company a joint holding status on the mining leases, giving access to existing infrastructure and materially reducing the project’s capex requirements at Skardon River
Company has entered into an HOA with a major Chinese refinery company for off-taking 100% of the annual bauxite production over the life of mine at Skardon River and is presently negotiating a full agreement
Negotiations with Traditional Owners to add bauxite to the existing Skardon River mining leases is in an advanced stage and is expected to complete in late 2010
Environmental Management Plan for Skardon River project is also in an advanced stage and is to be submitted for approval in near future
Company is well advanced with negotiations to secure contract mining services, civil works, river barging/transhipping services as well as EPCM contractor
The Board and Executive Management currently being established ahead of plans to secure private equity investors or complete an IPO
Bauxite is being classified in China as one of three strategic mineral resources with high import dependence and that its demand will remain strong
Gulf Alumina Limited is an Australian based company established in Feb 2004. The Company's focus is on bauxite exploration and development of bauxite mining and export operation for the Chinese alumina refinery market.
Gulf Alumina is the holder of about 2,000 sq kms of partly drilled bauxite mining tenements and rights in the Cape York Peninsula region of Queensland, and on Marchinbar Island, Northern Territory.
