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ABx Group Limited ( (AU:ABX) ) has issued an update.
ABx Group Limited announced that its subsidiary, ALCORE Limited, received a $298,000 R&D tax offset from the Australian Taxation Office for its innovative process of producing industrial chemicals from aluminium smelter bath waste. This financial boost supports the construction of ALCORE’s pilot plant in Bell Bay, Tasmania, which will advance hydrogen fluoride production technology. Additionally, ABx Group anticipates further tax offsets for its rare earth activities, enhancing its position in the industry and benefiting stakeholders.
More about ABx Group Limited
ABx Group Limited is an Australian company focused on delivering materials for a cleaner future. Its primary projects include supplying light and heavy rare earths from Tasmania, producing industrial chemicals from aluminium smelter by-products through its subsidiary ALCORE, and mining bauxite resources for various industries. The company emphasizes sustainable practices and operates only where welcomed.
Average Trading Volume: 1,658,065
Technical Sentiment Signal: Buy
Current Market Cap: A$20.21M
For detailed information about ABX stock, go to TipRanks’ Stock Analysis page.