Justice Marshall had ordered BAJV
to pay civil pecuniary penalties totalling $200,000 for engaging in unconscionable conduct and making false or misleading misrepresentations in relation to overcharging customers for hire vehicle repair costs and failing to refund overcharged customers.
Both the BAJV
and BRL are currently undertaking mine development activities including mine planning and planning the commencement of environmental baseline studies.
Yankuang have also advised BAJV
that the remainder of the outstanding amounts will be paid in the coming days.
The Court found, based on the parties agreed Statement of Facts and Admissions, that BAJV
and Mr Ayers had engaged in unconscionable conduct and made false or misleading representations to BAJV
customers in connection with repair costs to damaged rental vehicles.
BRL continues to work with Yankuang with respect to these outstanding amounts and have received an update on the progress of regulatory approvals required for the payments to be made to BAJV
. Yankuang have now received the Overseas Investment Certificate from the Department of Commerce of Shandong Province and this completes the regulatory requirements in China for these payments to be made.
s unconscionable conduct included obtaining two invoices from a bodyworks repairer for the same vehicle repair.
The previous BAJV
resource stood at 127.5Mt, following an initial resource announcement in June 2012, and an upgrade in early May 2013 based on new specific gravity measurements, and an additional 729 drill holes.
The Felicitas deposit is the largest of the resource bases that BAJV
have defined within the northern Darling Range of Western Australia.
In November the Company announced an extensional drilling program at its Felicitas Bauxite Project, where it has a resource of 73.3Mt, which is part of the Company's joint venture with Yankuang Resources Pty Ltd (Yankuang) managed by BAJV
. This program intends to extend the current JORC resource and identify the extent of the bauxite mineralisation potentially available at the Felicitas deposit.
Following the announcement of an initial 73.3 million tonnes (Mt) bauxite resource at the Felicitas Project in June 2012, BAJV
has engaged CSIRO to carry out preliminary bauxite characterisation analysis on all BAJV
's northern Darling Range resources.
- Appointment of credentialled executive Bill Moss to head up BAJV
Bauxite Resources Limited (ASX: BAU) (BRL) has joint venture projects with two large Chinese organisations: the Bauxite Alumina Joint Venture (BAJV
) with Yankuang Resources Limited which aims to develop an alumina refinery in Western Australia; and the exploration joint venture with HD Mining and Investments, a subsidiary of Shandong #1 Institute of Geology and Minerals Exploration, which aims to develop bauxite resources for mining.