Alpha HPA announced it is progressing with stage two of its high-purity alumina refinery in the Queensland port city of Gladstone on the back of positive definitive feasibility study results and locking in $520 million (USD 348.7 million) in debt and equity project financing.
The company’s stage one precursor production facility, which features Alpha’s proprietary solvent extraction and refining technology to produce a range of high-purity alumina products for sale into the lithium-ion battery and LED battery markets, is already producing 99.99% pure aluminium products in commercial quantities.
Alpha Managing Director Rimas Kairaitis said the company has now reached financial close on the next stage of the facility and will immediately commence project execution for the full-scale facility, having already advanced several key elements of the project’s implementation.
“Construction of the 10-hectare, state-of-the-art, full-scale facility will commence mid-2024,” Kairaitis said, adding that the second stage will encompass full-scale production of up to 10,000 tonnes of high-purity aluminium materials per year.
Alpha has secured credit approval for $320 million in project debt and an $80 million cost overrun facility from the Australian government’s Northern Australia Infrastructure Facility and Export Finance Australia. The company is also undertaking a fully underwritten $120 million institutional placement and non-underwritten share purchase plan.
Kairaitis said the positive feasibility study and project financing represent a comprehensive endorsement of Alpha’s technology and business strategy and allows it to establish “Australia’s first, large-scale commercial capability to manufacture high purity aluminas and related products to support key high technology growth sectors and the global energy transition.’’
Alpha said its process technology allows for the extraction and purification of aluminium from industrial feedstock, producing materials of exceptional purity for high-technology applications, including the semiconductor, lithium-ion battery and LED lighting sectors.
The project is expected to generate 120 ongoing jobs on top of 300 jobs during construction.
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