Bauxite Resources Limited (ASX:BAU) Signs Memorandum Of Understanding With Yankuang Group...

Friday June 26 2:53 PM Perth, Australia, June 26, 2009 - (ABN Newswire) - The Board of Perth-based bauxite explorer and developer, Bauxite Resources Limited (ASX: BAU.AX)(PINK:BXRDF) is pleased to announce that it has signed a Memorandum of Understanding (MOU) with Yankuang Group Corporation Ltd ("Yankuang"). Yankuang is a leading industrial corporation based in Shandong Province China with interests in coal mining, electricity generation, manufacturing, aluminium smelting and processing employing some 100,000 people. Yankuang is seeking to vertically integrate its aluminium business and source a long term supply of alumina. BRL has held a number of discussions with Yankuang over the last year and the MOU formalises the direction of the relationship between our companies. The key targets of the MOU are: 1. To negotiate a... [read full story]                    

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