ABX Group has declared the termination of its prior 2017 agreement with Core Refining, stating that the company is no longer in requirement of intellectual property (IP) for its ALCORE Project located in Tasmania. The Core Refining IP was initially licenced to ABX for the refinement purpose of various types of raw material with fluorine acids, subsequently producing aluminium fluoride from bauxite. The operation project took place under ABX’s 83 per cent owned subsidiary, ALCORE.
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The termination aligns with ALCORE’s recent transition to the continuous pilot plant stage, following a lease agreement with Rio Tinto (ASX: RIO) for an industrial facility near the Bell Bay aluminium smelter in northern Tasmania. ABX, which has a market capitalisation of USD 10.26 million, sees this move as a strategic simplification of its operations.
Dr. Mark Cooksey, CEO of ABX, has recognised Core Refining’s key function in kickstarting the ALCORE project. However, he has emphasised that the company’s priority now lies elsewhere.
“With our emphasis on aluminium smelter bath waste as the source of fluorine for hydrogen fluoride and aluminium fluoride, we are no longer using or planning to use the Core Refining IP,” he said, adding, “This termination streamlines our operations, removing unnecessary complexities, as we concentrate on constructing the continuous pilot plant and scaling up commercial production.”
During the technology development phase, ALCORE discovered an opportunity to utilise waste from aluminium smelting baths as a source of fluorine for the production of hydrogen fluoride and aluminium fluoride. This method not only reduces production costs but also offers environmental benefits by recycling industrial waste.
ALCORE’s initial technology buildout stage was held at an ALCORE-financed and constructed laboratory in a leased establishment in Berkeley Vale, New South Wales. As the arrangement between ALCORE and Core Refining is coming to an end, ALCORE has decided to sell this laboratory back to Core Refining. Furthermore, ALCORE has terminated its lease at Berkeley Vale as of January 1, 2025, with essential equipment, including the batch pilot plant, set to be sent to Tasmania.
By terminating the contract with Core Refining, ABX has avoided an unnecessary licencing constraint, enabling it to concentrate entirely on advancing the ALCORE Project and optimising its proprietary process for sustainable aluminium fluoride production.
Information source: Chemanalyst
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