ABx Group (ASX:ABX) has received overseas finding approval for its 83%-owned subsidiary ALCORE, amid preparing a grant application for up to $5 million for the Industry Growth Program.
The Australian Taxation Office (ATO) engaged AusIndustry, with the Department of Industry, Science and Resources (DISR) to assess overseas finding applications, which has since approved more than $2 million of capital expenditure for the continuous pilot plant being constructed in Bell Bay, Tasmania.
Prior to the end of 2027, ALCORE may submit a further application to apply to research and development activities for 2027 to 2029.
ABx, which has a market capitalisation of $18.89 million, says this outcome supports ALCORE’s ongoing technology development efforts and reflects the project’s growing engagement with specialised international experts.
DISR also previously indicated the unused balance of grant funds received, totalling $2.53 million, is repayable. DISR has confirmed that it wants ALCORE to continue and does not want the required repayment to impact the project’s success.
Both companies have agreed to a repayment schedule consisting of equal monthly repayments, concluding on 29 June 2026.
CEO Mark Cooksey says these recent developments mark important progress for ALCORE.
“Our engagement with the Industry Growth Program is another positive step as we move closer to commercialising our clean fluorine chemical technology,” Cooksey says.
ALCORE is preparing an application for a Commercialisation and Growth grant of up to $5 million. The grant will be submitted in September 2025, with a decision on the grant anticipated before the end of 2025.
These initiatives support the construction of the continuous pilot plant, when orders for all key equipment have been placed.
ABx Group is an Australian company focused on delivering materials for a cleaner future, including heavy rare earths, clean fluorine chemical production, and bauxite.
Write to Aaliyah Rogan at Mining.com.au
Images: ABx Group
