Alurion raises A$50m in Australian IPO to fund bauxite project
Alurion Resources Limited, a subsidiary of Brazilian Rare Earths Limited, has raised approximately A$50 million through its Australian IPO. The company issued 47,619,048 shares at A$1.05 each to fund the Amargosa Bauxite-Gallium Project. ASX listing is expected on 30 July 2026, with trading to start on 3 August 2026 under the code ALU.
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Alurion Resources Limited, a subsidiary of Brazilian Rare Earths Limited, has successfully raised approximately A$50 million through its initial public offering in Australia. The company issued 47,619,048 new fully paid ordinary shares at an offer price of A$1.05 per share. Proceeds from the offer will be used to fund the continued development of Alurion's Amargosa Bauxite-Gallium Project.
The successful capital raise follows the approval of the demerger of the Amargosa Bauxite-Gallium Project into Alurion by Brazilian Rare Earths shareholders. At the General Meeting held on 10 July 2026, 99.94% of votes cast were in favour of the demerger.
Admission of Alurion to the Official List of the Australian Securities Exchange is expected on 30 July 2026. Trading on a normal settlement basis is expected to commence on 3 August 2026 under the ASX code "ALU", subject to ASX approval and satisfaction of admission conditions.
Key Offer Details
| Metric | Value |
|---|---|
| Shares issued | 47,619,048 |
| Offer price | A$1.05 per share |
| Gross proceeds | ~A$50 million |
| ASX code | ALU |
| Expected admission date | 30 July 2026 |
| Expected trading start | 3 August 2026 |
How will the A$50 million capital injection specifically accelerate the development timeline for the Amargosa Bauxite-Gallium Project?
What is the projected market demand for gallium over the next decade, and how does Alurion plan to position itself within this supply chain?
Will Brazilian Rare Earths retain a significant equity stake in Alurion post-demerger, and how might this influence future strategic partnerships?
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