ABx Group (ASX:ABX) continues to advance its partnership with Good Importing International (GII) with regards to ABx’s bauxite assets in Queensland and New South Wales, with investments backing project development.
In Queensland, GII’s initial $2.7 million investment into ABx3, a previously wholly owned subsidiary of ABx, is being put toward mine planning and environmental and port approvals for the direct shipping ore (DSO) program for the Sunrise Bauxite Project.
The project is on schedule for completion in 2027, with recent advice from the Department of the Environment, Tourism, Science and Innovation. ABx notes that this is a critical step for the project as it advances toward production.
In New South Wales, GII has an option to invest $4.8 million to acquire a 75% interest in ABx2, a wholly owned subsidiary of ABx, which holds the Taralga and Penrose bauxite assets.
The two parties are currently engaging external experts to conduct due diligence on Taralga and, with no critical issues identified to date, ABx notes that this leads to a credible project pathway.
ABx and GII have agreed to extend the exclusive option period to 11 August 2026 for this agreement.
Managing Director and CEO Dr Mark Cooksey says the company is pleased with how the partnership with GII is accelerating across ABx’s projects in Queensland and New South Wales.
“The market fundamentals for bauxite are very strong, and we intend to capitalise on it.”
The partnership was initially formalised in September 2025 with a series of transformational agreements, with GII investing up to $5.4 million for up to a 75% interest in ABx3 and an exclusive option to invest $4.8 million to acquire a 75% interest in ABx2.
Good Importing International is an active investor in the Australian market with offices in China, Hong Kong, and Australia.
ABx Group is an Australian company delivering materials for a safer, cleaner future, with a focus on heavy rare earths, clean fluorine chemical production, and near-term bauxite production.
Write to Amy Rotman at Mining.com.au
Images: ABx Group
