The Australian Government has awarded ABx Group’s (ASX:ABX) 84% owned subsidiary ALCORE $7.58 million under its Modern Manufacturing Initiative (MMI).
Funding from the Department of Industry, Science, and Resources will be used to expedite the production of hydrogen fluoride and other industrial chemicals from aluminium smelter bath waste by commercialising ALCORE’s proprietary process.
The ALCORE process received its highest fluorine recovery in October 2024 at a rate of 97% after optimising particle size, reactor temperature, acid concentration, and feed radio, as reported by Mining.com.au.
The subsidiary previously received a total of $5.69 million from grants to support laboratory tests, the batch pilot plant, and the construction of its continuous pilot plant.
With an intended loan of $1 million from the Tasmanian Government, ALCORE is currently constructing this plant at Rio Tinto’s (ASX:RIO) facility in Bell Bay, Tasmania.
The department has approved $7.44 million of project expenditure, representing $3.15 million of the MMI funds at its conclusion in March 2025.
ALCORE is working with the government to finalise an optimum repayment schedule of $2.53 million after receiving confirmation to continue repayments without altering the project’s success.
As the country prepares to decrease its carbon emissions and meet net zero, the Clean Energy Council reports that the global demand for aluminium is projected to double by 2050 due to its importance in the production of renewable energy technologies, such as solar panels, electric vehicles, and batteries.
The price of aluminium increased 3.53% this month to US$2,571.1 ($4,223.63) according to Trading Economics as of 26 June.
Write to Maddison Elliott at Mining.com.au
Images: ABx Group
