ABx Group has announced that a series of agreements has been executed to develop bauxite mine projects in Queensland and, potentially, New South Wales.
The agreements with Good Importing International (GII) will see investment into the Sunrise joint venture project in Bundaberg, Queensland, as well as possible investment into the Taralga and Penrose project, NSW, at a time when prices remain high.
Global bauxite prices bauxite prices spiked in late 2024 and early 2025 due to supply disruptions across Guinea and reduced production in China.
It is understood GII will invest a total of $5.4 million over two project stages and will acquire a 75 per cent stake.
The first stage of funding will facilitate the extraction of around 800,000 tonnes of direct shipping ore bauxite from the Binjour mine to be exported through Bundaberg port. This will assist in securing all regulatory approvals, such as land access agreements and permits, finalising a mine plan, and the design of port infrastructure.
The second stage, expected to take around three months, includes additional fundraising through the sale of shares.
“I am delighted to have executed these agreements with GII to secure significant invesment into the Sunrise project and potentially the Taralga and Penrose projects. There is tremendous opportunity in global bauxite markets that we plan to capture,” ABx Group managing director Mark Cooksey said.
“GII is highly experienced in financing, developing and securing offtake for Australian bulk commodities projects and we look forward to a long-term productive partnership.”
The Sunrise project has a resource of 37 million tonnes (Mt) of gibbsite-type metallurgical bauxite, with resource at Taralga sitting at 38Mt located 200km inland from Port Kembla.
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