Alcore signs MoU with Sojitz for Aluminium Fluoride

Australian Bauxite Limited’s subsidiary ALCORE Limited has executed a Memorandum of Understanding agreement (MoU) with the Japanese global trading company Sojitz Corporation (Sojitz).

Both the companies will explore a potential business relationship with respect to the business of Aluminium Fluoride (AIF₃).

Mark Cooksey, Alcore’s CEO, commented: “Sojitz has been assisting Alcore for 3 years and is one of several aluminium industry corporations that are vitally interested in the Alcore processes and business plans. We welcome this third-party endorsement and we expect there will be further endorsements in the coming months as we start to standardise our product specifications and processing strategies. Sojitz can provide an immediate international capability and could assist in the supply chain for Alcore production of AlF3 which is a strategically important mineral product for aluminium smelting and battery production.”

Alcore plans to produce 10,000 tonnes per year growing to 50,000 tonnes. The company will supply AlF3 to Australasian aluminium smelters and international markets. Currently Australasian imports from China exceed 30,000 tonnes per year worth more than A$60 million.

Alcore is an 89%-owned subsidiary of Australian Bauxite Limited (“ABx”) that has the global exclusive rights to the aluminium-related portion of CORE Technology (Patent Application), Australian Bauxite said.