ABx Group receives government backing

ABx Group (ASX:ABX) and its subsidiary ALCORE Limited have received a $1 million zero-interest loan from the Tasmanian Government. This loan is intended to support the construction and operation of a pilot plant in Tasmania. The plant will use ALCORE's proprietary process to produce industrial chemicals from aluminium smelting waste.

Impact and future outlook for ABx Group

ABx Group, through its subsidiary ALCORE Limited, has taken a pivotal step in advancing its proprietary process to recycle aluminium smelting waste into valuable industrial chemicals. With a $1 million zero-interest loan from the Tasmanian Government, the company aims to establish a continuous pilot plant in Tasmania. This initiative aligns with Australia's goals for a sustainable and circular economy, potentially reducing dependency on imported aluminium fluoride. The project is expected to pave the way for a commercial scale plant, enhancing local economic growth and sustainability. ABx Group is also pursuing an ionic adsorption clay rare earth project in northern Tasmania, with a commitment to environmental responsibility.

Executive commentary on government support

The Tasmanian Government's support is a significant endorsement of our project and its potential to transform industrial waste into valuable materials,' said Mark Cooksey, Managing Director and CEO of ABx Group. 'We look forward to progressing with the pilot plant and providing updates on its development.