VBX agrees to supply 2-3 million tonnes of bauxite annually to a Chinese group under a framework deal for Wuudagu project development.
VBX has signed a bauxite offtake and investment framework agreement with a Hong Kong-based unit of a Chinese aluminium group. The deal outlines plans to supply 2-3 million tonnes of bauxite annually from the Wuudagu project in Western Australia, with pricing tied to a market reference index adjusted for quality.
The agreement includes potential Chinese investment to cover a significant portion of Wuudagu’s construction and commissioning costs. Final terms remain subject to negotiations and a definitive feasibility study, expected within 90 days. The parties may also explore collaboration on additional bauxite assets in Northern Australia.
The framework is non-exclusive and contingent on successful contract execution, with no immediate market reaction reported.