ABx secures A$2.7m strategic funding for bauxite project
ASX-listed ABx Group has received A$2.7-million in Stage 1 funding from Good Importing International (GII) to assist in the development of the Sunrise bauxite project in Queensland.
The investment gives GII a 70% stake in ABx subsidiary ABx3, which holds the Sunrise project. The funds will be used to advance project approvals, finalise the mine plan, and design port infrastructure at Bundaberg for the export of at least 800 000 t of direct shipping ore bauxite.
The Stage 1 programme, expected to take 12 to 24 months, will pave the way for Stage 2 funding – an additional A$2.7-million investment that will lift GII’s ownership of ABx3 to 75%.
ABx Group MD and CEO Mark Cooksey said the partnership provided the capital and expertise needed to bring Sunrise closer to production.
“We are very pleased to have secured funding to develop the Sunrise bauxite project and officially welcome GII as a strategic partner,” he said. “The investment provides the resources, technical skills and commitment needed to advance towards production. With strong demand and tight global supply, we are confident this partnership places the project in an excellent position to succeed.”
The updated project concept, jointly developed by ABx and GII, leverages Gladstone Ports Corporation’s common-user infrastructure at Bundaberg port, significantly reducing both capital requirements and the time to production.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Acufill is the Southern African distributor of internationally recognised FLUX pump technology, offering drum and container emptying pumps,...
VISIT SHOWROOM
For over 15 years, Lilak Aluminium, a trusted leader in architectural extrusion supply, has delivered excellence to businesses like yours.
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
