Strategic Investment for QLD and NSW Bauxite Projects

ABx has executed a series of agreements with Good Importing International Pty Ltd (GII) to develop the ABx bauxite projects in Queensland and, potentially, New South Wales. There is tremendous opportunity in global bauxite markets that we plan to capture.

For the Sunrise Bauxite Project in Queensland, GII will invest $2.7m and then a potential further $2.7m to acquire a 75% interest in the project. The investment is designed to enable the extraction of at least 800,000 tonnes of direct shipping ore bauxite from the Binjour mine and export through Bundaberg port.

GII to have a 9-month exclusive option to invest $4.8m to acquire a 75% interest in the ABx Taralga and Penrose Bauxite Projects in New South Wales. If the option is exercised, the parties will enter into agreements substantially the same terms as the corresponding documents relating to GII’s investment into the Sunrise Bauxite Project.