ABx Group Ltd (ASX:ABX, OTC:AUSBF) Managing Director Mark Cooksey speaks to Thomas Warner about the the strategic minerals and chemicals company's progress with its projects in Tasmania and the Australian mainland.
Cooksey gives a brief overview of the business, saying that ABx is primarily focused on exploring rare earth elements in Tasmania as well as developing a novel process to convert industrial waste into essential industrial chemicals.
A significant highlight is their ionic clay rare earth deposit, similar to those mined in China, which is a cost-effective source of heavy rare earths for permanent magnets. Cooksey reveals that recent assays showed "by far the highest assay result to date" of over 17,000 PPM total rare earths including over 800ppm of dysprosium. With promising results close to their drilling boundary, he sees scope for extending the resource.
Over the next two years, ABx aims to expand its rare earth resource, finalise metallurgical processes, and to be close to establishing its first commercial plant in Tasmania to recycle waste from Australian aluminium smelters.