Bauxite giant VBX Limited has given investors several updates that demonstrate the increasing traction in the Australian bauxite sector, with the Wuudagu Bauxite Project in focus across several areas. From leadership hires to an acceleration in drilling and an initial public offering into a useful market and the performance of that market, the company is positioning itself. It is being taken seriously as the new kid on the block in the global aluminium supply chain.
Image source: VBX Limited
Strengthened leadership and operational progress
One of the key appointments is Lloyd Dolman to the position of General Manager - Development. Dolman adds significant experience in development-phase project delivery requirements and operational management skills, which will be important to guide Wuudagu through feasibility and into production. VBX has also evolved its agreement with Transhipment Services Australia to provide logistic solutions for taking ore from its remote Kimberley deposit to export markets.
Drilling is progressing well, with VBX also moving a second rig into the area to assist with infill and resource extension work. This is going to increase geological confidence and feed into the Definitive Feasibility Study (DFS), which is due by the end of 2025. The success of this work and the programme timeline are critical for VBX, as it is targeting first production in Q4 2026.
Also read: Bauxite map 2024: Country-wise reserves and production metrics unveiled
IPO momentum and market positioning
VBX made its debut on the ASX just a few months ago, raising USD 10 million in June 2023 with an IPO above the price range. Shares under the VBX security code climbed by 15 per cent in their debut to USD 0.69, supported by institutional investors such as Deutsche Balaton, Lowell Resources Fund and Terra Capital.
The fundamentals of the project had fuelled investor interest. The Wuudagu reserve is currently 59 Mt and has high-grade characteristics of 45.4 per cent alumina and 3.6 per cent silica – similar to Guinea’s ore, which is sought after worldwide. As VBX founder and managing director Ryan De Franck said, “That’s the unique aspect about Wuudagu: it’s essentially a Guinea spec product, 45 per cent alumina, 3 per cent silica, and then you’ve got the advantage of being in Australia, low sovereign risk, and a (short) shipping distance to China.”
A strategic IPO and exploration upside
VBX’s decision to pursue a public listing rather than private funding was strategic. As De Franck noted, “The benefit of us doing the IPO, as opposed to other funding options that were available, is that you’re going to retain all that strategic value in the project as we de-risk it over the next 12 to 18 months.”
With only half of the tenement drilled, the upside remains significant. De Franck confirmed, “We think that we’ve got additional bauxite within our licences that we want to test and explore, and the focus this year is doing that. And then that’ll kind of drive the annual production rate and the mine life as part of the updates to the DFS.”
Positioning for a premium bauxite future
Currently, VBX shares are trading at ~AUD 0.48 to 0.515 (USD 0.31 to 0.34) as of August 18, 2025, and the company continues to be on the radar as one of the few ASX-listed pure-play bauxite developers. The timing of the Wuudagu and Takapinga projects was propitious, given the increased demand in China and recent supply issues in Guinea.
If VBX can successfully deliver on its DFS and ESG approvals and financing milestones, it could be an important supplier of premium-quality alumina feedstock in the Asia Pacific. VBX provides investors and industry stakeholders with a unique combination of geological quality, strategic geography, and momentum of operationalisation.
To get full insights into the global bauxite market, read our report: Global Bauxite and Alumina Industry Outlook 2025
Responses
