Marubeni Corp. announced Oct. 6 that it had signed a deal with Australian Bauxite Ltd. to conduct a feasibility study on mining bauxite deposits in the Goulburn-Taralga area of New South Wales, Australia.
The two companies have agreed that Marubeni will have the right to acquire 35 percent of any mining operation that results from the study and participate in the operation of the bauxite mine.
Bauxite is a source of aluminum, and Marubeni said most of the bauxite produced from the New South Wales deposits would be sent to China where demand for aluminum is booming.
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