VBX Signs Bauxite Offtake Agreement With Hong Kong-Based Chinese Group
Vanadium Battery Exchange (VBX) has signed an offtake and investment framework agreement with a Hong Kong unit of a major Chinese aluminium industry group. The deal outlines potential terms for the Chinese entity to invest in developing and operating VBX's Wuudagu bauxite project located in northern Western Australia, as well as purchasing between two and three million tonnes per annum from the site. The pricing mechanism will be based on an agreed market reference index adjusted for product quality. The final investment terms are expected to be negotiated within 90 days after a definitive feasibility study is delivered. Additionally, VBX plans to explore further collaboration opportunities with the Chinese group across other bauxite assets in Northern Australia. VBX's managing director highlighted Wuudagu’s low-silica product quality and strategic location as key advantages for global aluminium markets.
Tickers: $VBX
Topics: bauxite investment framework mining offtake agreement