Why Meander Valley Residents Should Be Wary of ABx’s Proposed Bauxite Mine

Meander Valley residents have every right to be concerned about the proposed ABx bauxite mine in Reedy Marsh, given the company's troubling history at Bald Hill. Despite bold promises of job creation, royalties, and economic boosts, ABx has consistently underdelivered. 

At Bald Hill, ABx pledged up to 180 jobs, millions in royalties, and profits for Tasrail. 


Image © The Examiner - August 10 2020
Instead, no full-time jobs were created, no royalties were paid, and Tasrail faced a $2.48 million loss.  

Additionally, the mine has failed to sell any metallurgical-grade bauxite as originally intended, instead sporadically selling low-value product for prime agricultural use.

 



Tasmania government has also seen no financial benefits, with ABx exploiting a legal loophole where the royalties went to the go to landowner, not the government. Investors have suffered as well, with share prices plummeting and no dividends paid since 2009.

 

Given this history of broken promises and financial disappointment, Meander Valley residents have very valid concerns about ABx’s optimistic projections for their proposed Reedy Marsh mine. The company’s track record suggests they may once again fail to deliver, leaving the valley and residents to bear the environmental and economic costs without any substantial benefits.

 

People of the Valley must voice their concerns loud and clear. 


"The Meander Valley Council must demand greater accountability and independent peered reviewed science, using current baseline data on water, air and soil quality before even considering Abx’s mining proposal. "

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