Bauxite Resources Ltd (ASX: BAU) (‘BRL’) is one of the largest tenement holders in the highly prospective Darling Range in southwest Western Australia. The past year has seen a number of key objectives and milestones being met including the increasing of BRL’s bauxite resource by 53%. BRL has also increased the number of granted tenements, increased land access agreements, increased the number of Darling Range projects and at the same time demonstrated prudent financial management by retaining $50 million cash in the bank.
The Darling Range is the world’s largest bauxite producing region and supplies 23% of the world’s alumina. Gold, coal, iron ore, tin, tantalum and mineral sands are all produced in this region with BRL tenements covering approximately 24,000km2.
BRLs has entered into two bauxite joint ventures over its Darling Range tenements and retains 100% ownership of all minerals outside the bauxite resources identified.