BARRY Carbon-chaired Bauxite Resources has formed a joint venture company with a Chinese group in another step towards its hopes of building an alumina refinery in Western Australia.
Bauxite Resources and China's state-owned Yankuang Corporation have signed 10 detailed agreements and formed a joint venture for a proposal to mine bauxite and construct and operate an alumina refinery in the state’s South West.
Under the agreements between the companies, Yankuang will pay 91 per cent of the refinery construction costs and receive 70 per cent of the alumina product.
Bauxite Resources will fund the remainder of the costs and receive 30 per cent of the plant's alumina output.
Mr Carbon said the agreements were a significant step forward towards the development of the proposed refinery.
The company this year suspended its Bindoon trial mine after a fierce campaign by some local residents opposed to Bauxite Resources’ efforts to expand to commercial scale production under its existing quarrying permit.
