Bauxite Resources Signs MoU with Hongfan

16 August 2009 (Last Updated August 16th, 2009 18:30)

Australian explorer and developer Bauxite Resources has signed an off-take agreement to export bauxite with Chinese firm Hongfan Holdings. The Memorandum of Understanding (MoU) will see Bauxite Resources export about 1.25 million tonnes of bauxite each year to Hongfan. The a

Australian explorer and developer Bauxite Resources has signed an off-take agreement to export bauxite with Chinese firm Hongfan Holdings.

The Memorandum of Understanding (MoU) will see Bauxite Resources export about 1.25 million tonnes of bauxite each year to Hongfan.

The agreement is part of Hongfan efforts to expand its interests in bauxite and alumina.

The MoU also aims at establishing a long-term relationship and strategic cooperation between the parties, Bauxite Resources said.