ABx Group’s subsidiary ABx3 has received a $2.7 million investment from Good Importing International, granting GII 70% ownership to develop the Sunrise Bauxite Project in Queensland. This funding kickstarts a 12–24 month program targeting regulatory approvals and mine planning, with further investment options on the horizon.
- Good Importing International invests $2.7 million for 70% stake in ABx3
- Funding to support approvals, mine plan, and port design for Sunrise Project
- Stage 1 program expected to last 12–24 months with potential Stage 2 funding
- GII holds option to invest $4.8 million in Taralga and Penrose projects
- Partnership aims to capitalize on tight global bauxite supply conditions
Strategic Funding Boost for Sunrise Bauxite Project
ABx Group Limited has taken a significant step forward in developing its Sunrise Bauxite Project in Queensland, securing $2.7 million in Stage 1 funding from Good Importing International (GII). This investment grants GII a 70% ownership stake in ABx’s subsidiary ABx3, which holds the rights to the project. The funding will be directed towards advancing critical project milestones including regulatory approvals, mine planning, and port infrastructure design.
The Sunrise Project boasts a JORC-compliant resource of 37 million tonnes of gibbsite-type metallurgical bauxite, positioning it as a promising source of direct shipping ore. ABx and GII have collaborated on a project concept leveraging existing common user infrastructure at Bundaberg Port, which is expected to reduce both capital costs and time to production compared to earlier plans.
Phased Development and Ownership Structure
The Stage 1 program is anticipated to span 12 to 24 months, focusing on securing all necessary permits and finalizing the mine and port plans to enable extraction of at least 800,000 tonnes of bauxite. Upon successful completion of these milestones, GII has committed to a further $2.7 million investment (Stage 2), increasing its ownership in ABx3 to 75%. These additional funds will facilitate land acquisition, lease payments, and the construction of mining and port infrastructure, with Stage 2 expected to be completed within three months.
Governance of ABx3 will be shared, with a three-member board comprising two directors nominated by GII and one by ABx, requiring unanimous approval for fundamental decisions. This structure underscores the strategic partnership’s collaborative nature while maintaining ABx’s influence over key project developments.
Expanding Opportunities in New South Wales
Beyond Queensland, GII retains an exclusive option to invest $4.8 million for a 75% stake in ABx’s Taralga and Penrose bauxite projects in New South Wales. This option can be exercised by December 2025 or extended to June 2026 for a non-refundable fee, which would be credited against the purchase price if exercised. This potential expansion reflects confidence in ABx’s broader bauxite portfolio and the strategic value of these assets.
Market Context and Outlook
The timing of this partnership aligns with a period of heightened global bauxite prices and supply disruptions, notably from Guinea and China. The recent exit of Emirates Global Aluminium from Guinea due to government expropriation has further tightened supply, creating a favorable environment for new producers like ABx. Managing Director Mark Cooksey highlighted the strategic importance of this funding, emphasizing the combined technical expertise and resources that GII brings to accelerate the Sunrise Project towards production.
ABx’s approach also reflects a commitment to sustainable practices, aiming to operate only where welcomed and to leave the land and environment in better condition. As the company advances its projects, it remains focused on delivering materials essential for a cleaner future, including rare earths and industrial chemicals, alongside its bauxite ambitions.
Bottom Line?
With funding secured and a strategic partner onboard, ABx is poised to navigate the next critical phase of bauxite development amid a tightening global market.
Questions in the middle?
- Will GII proceed with Stage 2 funding on schedule, and what factors could influence this decision?
- How will regulatory approvals and land access negotiations progress over the next 12–24 months?
- What impact will ongoing global supply disruptions have on the Sunrise Project’s commercial viability?