ABx Group (ASX:ABX) has been utilising its technical expertise in partnership with two recently awarded research and development (R&D) grants, CEO Mark Cooksey says.
“This will assist ABx to more rapidly develop and create more value from its ionic clay rare earth project in northern Tasmania,” Cooksey says.
The company is a partner in the Critical Metals for Critical Industries (CMCI) Cooperative Research Centre (CRC), which was awarded a $53 million grant from the federal government for the development and commercialisation of technology refinement from new critical minerals.
The CMCI CRC was created by Minister for Industry and Innovation and Minister for Science Tim Ayres and Minister for Resources and Northern Australia Madeleine King, bringing together 62 partners.
Partnerships for the CMCI CRC includes 43 Australian businesses, 11 research organisations, and four peak bodies from the resources sector, which contributes another $185 million to the research centre.
ABx is also partnering with TeraGlo, which was awarded a $2.4 million grant through the Critical Technologies Challenge Program. Funds will be used to develop the world’s first quantum-enabled, in-field geometallurgy sensor for clay-hosted rare earths.
The company says the awarding of these two grants will allow ABx to create more value at the Deep Leads Rare Earths Project in Tasmania, which has a resource of 89 million tonnes from the Rubble Mound and Wind Break deposits.
“ABx has deep technical expertise in geology, metallurgy, and chemical engineering,” Cooksey says.
“This is crucial for developing a rare earth project, because rare earth geology and metallurgy are complex and the knowledge base is much less advanced compared to more traditional mineral commodities, such as gold and copper.”
Write to Maddison Elliott at Mining.com.au
Images: ABx Group
