ABx Secures Strategic $2.7 Million Investment for Sunrise Bauxite Project

ABx Group (ASX: ABX) has officially secured a significant strategic investment, receiving $2.7 million from Good Importing International (GII) as part of a staged funding agreement to advance its Sunrise Bauxite Project in Queensland. The deal grants GII a 70 percent stake in ABx’s wholly owned subsidiary, ABx3, which is developing the project.

This initial funding injection will be deployed to fast-track the approvals, mine planning, and port infrastructure design required to kick off production of at least 800,000 tonnes of direct shipping ore bauxite. The Stage 1 program is expected to take between 12 and 24 months. Upon successful completion, GII will inject a further $2.7 million to lift its stake in ABx3 to 75 percent.

Managing Director and CEO Dr Mark Cooksey welcomed the deal, describing it as a milestone for the Sunrise project and the company’s broader bauxite ambitions.

“We are very pleased to have secured funding to develop the Sunrise Bauxite Project and officially welcome GII as a strategic partner. The investment provides the resources, technical skills and commitment needed to advance towards production,” Cooksey said.

The Sunrise project contains a JORC-compliant resource of 37 million tonnes of gibbsite-type bauxite and leverages existing infrastructure at the Bundaberg port, operated by Gladstone Ports Corporation. This access is expected to significantly cut down both capital costs and lead time to production, giving the project a distinct commercial advantage.

As part of the deal, the ABx3 board will include two directors nominated by GII and one from ABx, with all key decisions requiring unanimous approval, ensuring joint stewardship of the development.

In addition to the Queensland project, GII retains an exclusive option to acquire a 75 percent interest in ABx’s Taralga and Penrose bauxite projects in New South Wales. That option, valued at $4.8 million, is open until December 2025, with the potential to extend for six months for an additional fee.

The funding comes at an opportune time. Global bauxite prices surged in late 2024 and early 2025 due to supply disruptions in Guinea and declining output from China. Further volatility looms, with Emirates Global Aluminium exiting its Guinea operations following government expropriation.

Cooksey said the timing could not be better. “With strong demand and tight global supply, we are confident this partnership places the project in an excellent position to succeed,” he added.

ABx’s broader portfolio also includes rare earths in Tasmania and fluorine chemical production, giving the company exposure across strategic materials essential to the energy transition.