Australian Bauxite signs offtake agreement with Rawmin Mining and Industries

Australian Bauxite Ltd (ABx) has finalised an offtake agreement with Rawmin Mining and Industries Pvt Ltd of Mumbai, India.

The agreement, which covers all bauxite produced by ABx out of Tasmania and runs five years, provides for Rawmin to buy 4.7 million wet metric tonnes of bauxite commencing with 200,000 WMT to March 31, 2016 and ramping up to 1.5 million WMT per annum from April 1, 2018.

The offtake agreement further provides for blended shipments of ABx and Rawmin bauxite on a profit share basis for any blending profits achieved.

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