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Hillgrove secures options on Indonesian bauxite projects
July 07, 2010
Hillgrove Resources Limited has secured options on nine bauxite licenses in Indonesia.
The Australian mining company has acquired a 70% shareholding in five companies that own nine bauxite exploration licenses (IUPs) over the Landak and Tayan South Bauxite Projects, covering 1,400km² in West Kalimantan, Indonesia.
Hillgrove has, in turn, agreed to transfer these options to its 85% owned subsidiary, InterMet Resources Ltd.
The licenses are all next to large active bauxite mining operations and the bauxite confirmed so far is gibbsitic and typified by low reactive silica levels. The bauxite resources will be used to supply Chinese demand.