ABx Group (ASX:ABX) has jointly terminated a heads of agreement, originally signed in 2017, with Core Refining, as it no longer requires intellectual property for the ALCORE Project in Tasmania.
The Core Refining intellectual property (IP) related to the refining of various ore types using a combination of fluorine acids. As such, the agreement provided ABx with a global licence to use the IP to produce aluminium fluoride from bauxite, to be developed through its 83% owned subsidiary ALCORE.
ABx, which has a market capitalisation of $10.26 million, says the termination is part of ALCORE’s recent progression to the continuous pilot plant stage following the recently reported lease agreement with Rio Tinto (ASX:RIO) for an industrial facility adjacent to the Bell Bay aluminium smelter in northern Tasmania.
CEO Dr Mark Cooksey says the partnership with Core Refining was an integral part of initiating the ALCORE Project.
“However, with the focus on aluminium smelter bath waste as the source of fluorine for hydrogen fluoride and aluminium fluoride, we are now not using or intending to use the Core Refining IP,” Cooksey says.
“The termination simplifies our operations and removes an unnecessary complexity. We remain focused on the construction of the continuous pilot plant at Bell Bay, and then scaling up commercial production.”
During technology development work, ABx and ALCORE uncovered an opportunity which involved using aluminium smelter bath waste as the source of fluorine for hydrogen fluoride and aluminium fluoride. This reduces costs and provides environmental benefits of recycling a waste.
The first stage of ALCORE technology development was undertaken at a leased facility in Berkeley Vale, New South Wales. ALCORE funded and constructed a laboratory within the facility.
As part of terminating the Core Refining agreement, ALCORE will sell its laboratory at Berkeley Vale to Core Refining, in accordance with the agreement’s original terms.
Further, ALCORE also concluded its lease agreement for the Berkeley Vale facility as of 1 January 2025. Some key equipment, such as the batch pilot plant, will be moved to Tasmania.
ABx Group is an Australian mining company focused on creating a ionic adsorption clay rare earth project and establishing a plant to produce hydrogen fluoride and aluminium fluoride from recycled industrial waste.
Write to Aaliyah Rogan at Mining.com.au
Images: ABx Group
