ABx Group Limited (ASX:ABX) Cancels Licence Agreement with Core Refining
Agreement Termination
ABx Group Limited (ASX:ABX) and Core Refining have jointly terminated their Heads of Agreement, originally signed in 2017. ABx no longer requires Core Refining’s intellectual property for the ALCORE project.
ALCORE’s Progression
The termination is part of ALCORE’s recent progression to the continuous pilot plant stage at Bell Bay, Tasmania. ALCORE has entered into a lease agreement with Rio Tinto for an industrial facility adjacent to its Bell Bay aluminium smelter. Key equipment, including the batch pilot plant, will be moved from Berkeley Vale, NSW to Tasmania.
Executive Comments
ABx Group Managing Director and CEO, Mark Cooksey said:
“The partnership with Core Refining was an integral part of the initiation of the ALCORE project.
However, with the focus on aluminium smelter bath waste as the source of fluorine for hydrogen fluoride and aluminium fluoride, we are now not using or intending to use the Core Refining IP.
Therefore, cancelling the Agreement with Core Refining was a logical step.
“The termination simplifies our operations and removes an unnecessary complexity. We remain focused on the construction of the continuous pilot plant at Bell Bay, and then scaling up to commercial production.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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