Asian Equities News 2015-08-10: Major Bauxite Offtake Agreement with Xinfa Group
10.08.2015 | ABN Newswire
Sydney - Metro Mining Ltd (ASX:MMI) announced that it has signed a bauxite off-take non-binding Memorandum of Understanding (MoU) with the Xinfa Group. Xinfa Group is one of the largest integrated aluminium Companies in China. It has significant refining and smelting operations in Shandong, Guangxi and Xinjiang Provinces. Metro forecasts total annual production of up to 2 million tonnes from its Bauxite Hills Project. The agreement contemplates a minimum contract tonnage of 1.0 million tonnes a year up to a maximum of 1.2 million tonnes a year over the initial five years term - representing around half of the annual production.Genex Power Limited (ASX:GNX) announced the appointment of specialist power and water consulting firm Entura to deliver a Bankable Feasibility Study (BFS) for its Kidston Pumped Storage Hydropower Project in North Queensland. As part of the BFS, Entura will partner with HYDROCHINA, China's leading hydropower and design consultants. Entura brings a utility-owner and operator perspective, deep local experience, regulatory knowledge and design optimisation capability to the Kidston Pumped Storage project, while HYDROCHINA brings a wealth of specialist experience in the development and construction of pumped storage hydro stations.
Blackham Resources Ltd (ASX:BLK) is pleased to announce the first assay results from its maiden Golden Age drilling programme, intersected visual gold in the early drilling of the Golden Age Reef at its Matilda Gold Project. The assay results from returned 5.1m @ 198 g/t Au from 173.1m which includes 0.8m @ 1,148g/t Au from 176.6 m.
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