Australia's Calix plunges as Australian CCUS grant programme gets cancelleed

Adbri

28/10/2022 24:50

** Shares of Australia's Calix  CXL.AX  fall as much as
21.5% to A$4.3, lose most since March 2020
    ** The minerals processing firm says it has been informed
that the Australian Government is not proceeding with the Carbon
Capture, Use and Storage (CCUS) Hubs and Technologies Program
 urn:newsml:reuters.com:*:nASX8qNbhb
    ** Following the Australian government's budget was released
on Oct 25, AusIndustry advised co that the A$11 mln ($7.10 mln)
in grant funding, announced by the former government in May
2022, has now been cancelled
    ** Says grant funding was in support of Calix's project with
Adbri  ABC.AX  to develop low emissions lime
    ** Adds Boral  BLD.AX  has advised Calix that the A$30mln in
grant funding, announced by the former government in May 2022
has also been cancelled
    ** Calix stock hits lowest since Sept 2021
    ** Adbri shares lose as much as 1.3% while Boral slips as
much as 1.8% 
    ** CXL stock down 17.6% this year, as of last close
    ($1 = 1.5497 Australian dollars)
 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))