FIRST Bauxite, on Friday, announced that it has entered into an agreement under which Strategic Bauxite has acquired the Company.

The transaction, according to a press release, represents an important milestone for First Bauxite and positions the Company for continued growth, investment, and long-term success.

Ralf Schoenfelder, Chief Executive Officer of First Bauxite, stated: “This transaction reflects the quality of our assets, the dedication of our employees, and the strong future potential of our operations. We are pleased to partner with an owner that shares our commitment to responsible mining, environmental stewardship, safety, and sustainable development.”

The company confirmed that its operations will continue without interruption throughout the transition process.

Existing commitments to employees, customers, suppliers, host communities, and government stakeholders will remain unchanged, the company said.

Michael Smith, General Partner of Strategic Bauxite, stated: “We are delighted to invest in First Bauxite and look forward to working with its employees, management team, customers, communities, and government partners. We believe the Company has significant growth opportunities and we are committed to supporting its continued success.”

First Bauxite said it remains committed to maintaining the highest standards of safety, environmental performance, regulatory compliance, and community engagement.