In a recent interview with Proactive, Mark Cooksey, the managing director of ABx Group Ltd (ASX:ABX, OTC:AUSBF), delved into the company's strategic focus on rare earth elements in Tasmania and bauxite exploration in Tasmania and Queensland. Cooksey also highlighted the company's innovative approach to recycling industrial waste into essential chemicals.
Thomas Warner: Since it's your first time talking to us, could you give us an overview of what ABx Group is all about?
Mark Cooksey: Certainly. ABx Group has been listed on the Australian Securities Exchange (ASX) for over a decade. We have three main focus areas. Firstly, we are exploring for rare earth elements in Tasmania. Secondly, we are developing a new process to recycle industrial waste into chemicals. Lastly, we have bauxite exploration and mining, which is where we initially started but is now the smallest area of our operations.
TW: That sounds fascinating. Could you elaborate on your rare earth exploration?
MC: We have an ionic clay rare earth deposit, similar to those mined in China. These are the best sources for heavy rare earths used in permanent magnets. Our clay resources are unique and lower-cost to process. We are continually increasing the resource and conducting metallurgical work to prove the process.
TW: What's the latest news on your rare earth projects?
MC: We recently received our highest assay result to date, over 17,000 parts per million (PPM) of total rare earths, including over 800 PPM dysprosium. This is exciting and suggests good prospects for extending our drilling campaign.
TW: Do you see scope for extending the boundary of your exploration?
MC: Absolutely. Our existing resource is based on just 20% of a 15-square-kilometre mineralised area. We've also had two more tenements granted, giving us over 500 square kilometres in the region. We are increasingly understanding the geology, which allows us to target our drilling effectively.
TW: What can people expect from ABx Group in the next couple of years?
MC: In the realm of rare earths, we'll be extending the resource and conducting metallurgical work. Within two years, we aim to have customers signed up and to commence scoping and feasibility studies. As for our waste recycling process, we hope to establish our first commercial plant in Tasmania within two years.
TW: Could you tell us more about your waste recycling project?
MC: Certainly. Our waste recycling project aims to convert waste from aluminium smelting into chemicals that are essential for the aluminium smelting process itself. We've completed the laboratory work and are now moving on to the pilot plant stage. The goal is to establish a commercial plant in Tasmania that will process waste from Australian aluminium smelters into chemicals they currently import.
TW: That's quite innovative. How does this align with your company's sustainability goals?
MC: Our waste recycling project is a testament to our commitment to sustainability. By converting waste into essential chemicals, we not only address an environmental issue but also contribute to the circular economy. This aligns perfectly with our broader sustainability goals.