Australian Bauxite finally gets EFIC finance facility

Australian Bauxite Ltd has concluded a finance facility with EFIC, Australias export credit agency. The facility will provide Australian Bauxite financial assistance to meet transport costs associated with its initial bauxite shipments.

Ian Levy, CEO at Australian Bauxite, said: "Efics facility will enable Australian Bauxite to apply its cash reserves toward accelerated production following the unseasonal harsh winter. Warmer spring weather conditions are allowing our team to catch up lost winter production."

"Shipping tenders have been received and the contract is about to be placed," he added.

With this advancement, Australian Bauxite is now in a position to commence production at their first mine site. The company has a pipeline for development of bauxite deposits in Tasmania, Queensland and New South Wales.

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