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ABx Group Limited ( (AU:ABX) ) has provided an announcement.
ABx Group Limited’s subsidiary, ALCORE, has received significant grant funding from the Australian Federal Government’s Modern Manufacturing Initiative to commercialize its innovative process of producing hydrogen fluoride and other chemicals from aluminium smelter waste. This funding supports the development of a continuous pilot plant in Bell Bay, Tasmania, enhancing Australia’s capability in critical mineral production and potentially establishing a new industry in the region. Despite the requirement to repay some unused grant funds, the project continues to progress, with key equipment orders placed and a repayment schedule being finalized with the Department of Industry, Science and Resources.
More about ABx Group Limited
ABx Group Limited is an Australian company focused on delivering materials for a cleaner future. Its key projects include supplying rare earths from Tasmania to Western supply chains, recycling fluorine waste to produce industrial chemicals through its subsidiary ALCORE, and mining bauxite for the aluminium, cement, and fertiliser industries. The company is committed to best practices on agricultural land and aims to enhance the environment where it operates.
Average Trading Volume: 165,161
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$10.08M
For an in-depth examination of ABX stock, go to TipRanks’ Overview page.