ABx Group (ASX:ABX) is locked in focusing on advancing the approval process for the Sunrise Bauxite Project in Queensland, CEO Mark Cooksey says.
In October 2025, the company received $2.7 million, as part of a stage one funding package from Good Importing International (GII), which will be used to develop Sunrise. GII will now earn a 70% interest in the Sunrise Project.
“Good Importing International is investing in the Queensland project and has an exclusive option to invest in the New South Wales projects,” Cooksey tells Mining.com.au.
“The benefit to ABx is that the capital is being provided by the investor and ABx retains 25% shares of the projects.”
The first round of funding will be deployed to finalise the project design for an initial extraction of bauxite from the Binjour mine, exported via Bundaberg Port.
Key milestones include securing approvals, land access agreements and permits to extract at least 800,000 tonnes of direct shipping ore bauxite, as well as finalising a mine plan and port infrastructure design. Stage one is expected to take 12 to 24 months to complete.
Under stage two, GII will invest a further $2.7 million by way of a share subscription to increase its ownership in Sunrise to 75%. Stage two funding will be used to pay all land acquisition and lease costs, as well as a security deposit and construct infrastructure.
Cooksey notes GII will decide whether to exercise their exclusive option to invest in the projects within the next six months.
The Sunrise Project consists of a resource of 37 million tonnes of gibbsite-type metallurgical bauxite and port operations at Bundaberg Port.
Dual strategy
Meanwhile, last week, ABx conducted a share placement to raise $6.05 million to fund development work at the Deep Leads Project in Tasmania, as well as construction of the ALCORE pilot plant.
Alpine Capital acted as the lead manager to the placement. The funds will be deployed to engineering and metallurgical studies, exploration drilling for a resource increase, and to secure offtake agreements for Deep Leads.
The funds will also cover construction and commissioning costs of the ALCORE pilot plant to produce hydrogen and fluoride from aluminium smelter bath waste. The company is among a number of Australian rare earths explorers thrust into the global spotlight, following the landmark agreement between the US and Australia to facilitate the investment of the billions of dollars needed to establish secure and reliable rare earth and critical minerals supply chains.
As reported by Mining.com.au on 1 December, China dominates the global rare earths market, creating acute vulnerability across Western supply chains.
The world’s supplies are now running low due to Chinese export restrictions, sparking fears of looming protracted shortages, and rocketing costs that could hit every sector from aerospace, to energy and semiconductor production.
As such, ABx is moving to become a significant player, recently raising $6.05 million to fund development activities at the Deep Leads Project in Tasmania and construction of the ALCORE pilot plant.
Funds will be deployed to engineering and metallurgical studies, exploration drilling for a resource increase, and to secure offtake agreements for the Deep Leads Project. Proceeds will also cover construction and commissioning costs of the ALCORE pilot plant to produce hydrogen and fluoride from aluminium smelter bath waste.
The Australian Nuclear Science and Technology Organisation (ANSTO) has started production of ABx’s first mixed rare earth carbonate (MREC) product using 50kg of a 100kg bulk sample, with completion expected before the end of November 2025.
The sample will be distributed to potential customers and offtake partners for evaluation.
Write to Aaliyah Rogan at Mining.com.au
Images: ABx Group
