Mitsubishi Development has reached agreement with Glencore to acquire a 30% interest in the Aurukun Bauxite Project.

The Project is currently subject to a business feasibility study and appropriate regulatory approvals. If approved, the Project would create 250 jobs over a two-year construction phase, and a further 400 jobs when the mine enters production.

When up and running, the project – located 23km to the north-east of the township Aurukun – will produce 8 million dry tonnes of bauxite over an expected mine life of more than 20 years.

The resource contains approximately 357 million tonnes, with mined tonnes extracted from shallow pits, using a conventional truck and loader operation. Screened and washed product will be hauled by road train to a coastal loading facility to be shipped to overseas customers.