Cadoux Limited, a leading producer of high-quality critical minerals for use in electric vehicles and high-tech applications, has reportedly acquired an $848,880 R&D tax incentive offset payment for its work-in-progress critical mineral projects that will innovate process design to produce first-class high-purity alumina and for its Minhub downstream rare earth production strategy in Darwin.
With this financial benefit, the company will step up its HPA and Minhub projects in line with Australia’s emerging critical minerals policy that aims to strengthen the supply chain for critical minerals to meet the growing demand for raw materials essential in producing high-tech products.
A share of the R&D fund will be utilised in commercial development of Cadoux’s HPA process design project for low-risk, low-cost production of high-purity 4N (99.99 per cent) and 5N (99.99 per cent) alumina materials. Cadoux’s innovative process design will enable integrated production of high-purity alumina at economically sustainable operating costs, as demonstrated previously through a pilot plant and extensive market studies.
The company aims to implement the process through two stages. In Stage 1, a 1,000 tonnes per annum small production facility will be built in Western Australia, followed by a 10,000 tonnes per annum full-scale commercial plant in Stage 2.
A part of the fund will also go into developing the Minhub project, which will include a mineral separation and rare earth mineral processing facility to enhance the supply chain for Australia’s emerging rare earth and mineral sand projects. Minhub will process third-party mineral concentrate and supply rare earth-rich xenotime and monazite mineral products to select markets.
The R&D tax incentive is an initiative by the Australian Federal Government designed to encourage companies to undertake research and development projects, offering a benefit of 43.5% on eligible expenses.
Responses
