| Work Detail |
ABx Group has jointly terminated its 2017 heads of agreement with Core Refining, as it no longer requires the intellectual property (IP) for the ALCORE Project in Tasmania. The Core Refining IP was originally licensed to ABx for refining various ore types using fluorine acids, allowing the production of aluminium fluoride from bauxite through its 83%-owned subsidiary, ALCORE. The termination aligns with ALCORE’s recent transition to the continuous pilot plant stage, following a lease agreement with Rio Tinto (ASX: RIO) for an industrial facility near the Bell Bay aluminium smelter in northern Tasmania. ABx, which has a market capitalization of $10.26 million, sees this move as a strategic simplification of its operations. ABx CEO Dr. Mark Cooksey acknowledged Core Refining’s role in initiating the ALCORE Project but emphasized that the company’s focus has now shifted. “With our emphasis on aluminium smelter bath waste as the source of fluorine for hydrogen fluoride and aluminium fluoride, we are no longer using or planning to use the Core Refining IP,” he said. “This termination streamlines our operations, removing unnecessary complexities, as we concentrate on constructing the continuous pilot plant and scaling up commercial production.” During its technology development phase, ALCORE identified an opportunity to use aluminium smelter bath waste as a fluorine source for producing hydrogen fluoride and aluminium fluoride. This approach reduces production costs while also providing environmental benefits by recycling industrial waste. The initial phase of ALCORE’s technology development took place at a leased facility in Berkeley Vale, New South Wales, where ALCORE funded and built a dedicated laboratory. As part of the Core Refining agreement’s termination, ALCORE will sell this laboratory back to Core Refining. Additionally, ALCORE has concluded its lease at Berkeley Vale as of January 1, 2025, with key equipment, including the batch pilot plant, set to be relocated to Tasmania. ABx remains committed to its long-term strategy of establishing a plant to produce hydrogen fluoride and aluminium fluoride from recycled industrial waste. Additionally, the company is progressing its ionic adsorption clay rare earth project, further strengthening its position in the Australian mining sector. By terminating the Core Refining agreement, ABx has eliminated an unnecessary licensing constraint, allowing it to focus fully on advancing the ALCORE Project and optimizing its proprietary process for sustainable aluminium fluoride production. |
