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ABx Group Limited ( (AU:ABX) ) just unveiled an update.
ABx Group Limited has secured a strategic investment from Good Importing International (GII) to develop its bauxite projects in Queensland and potentially New South Wales. GII will invest up to $5.4 million for a 75% stake in the Sunrise Bauxite Project and has an option to invest $4.8 million for a similar stake in the Taralga and Penrose projects. This partnership aims to capitalize on the current favorable conditions in the global bauxite market, driven by supply disruptions. The Sunrise Bauxite Project will benefit from existing infrastructure at Bundaberg Port, reducing production time and costs, and is expected to progress in two stages over the next 24 months.
More about ABx Group Limited
ABx Group Limited is an Australian company operating in the mining industry, primarily focusing on the development and production of bauxite, a key raw material used in the production of aluminum. The company is engaged in projects located in Queensland and New South Wales, with a strategic emphasis on leveraging market opportunities arising from global supply disruptions.
Average Trading Volume: 1,078,443
Technical Sentiment Signal: Buy
Current Market Cap: A$17.63M
Find detailed analytics on ABX stock on TipRanks’ Stock Analysis page.