High Purity Alumina - May 20, 2024

Alpha HPA takes Final Investment Decision to enter full scale production in Gladstone

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Alpha HPA is set to establish the world’s largest single site high purity alumina products refinery following today’s announcement to take a Final Investment Decision (FID) on Stage Two of the HPA First Project in Gladstone, Queensland.

The Stage Two FID follows an extensive three-year product marketing campaign to over 200 end users; the successful construction, commissioning, and 16 months of operation of Stage One and a comprehensive re-design and re-engineering of the Stage Two facility to capture process refinements, expanded product range capability and key customer requirements.

Alpha HPA’s Managing Director Rimas Kairaitis said the company will now immediately commence project execution for the full-scale, Stage Two 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, on the existing HPA First Project site at Yarwun, near Gladstone, where the company’s Stage One facility is already in small-scale production of its high purity aluminas and aluminium materials product range,” Mr Kairaitis said.

“Stage Two will encompass full-scale production of up to 10,000 tonnes of high-purity aluminium materials per year creating 120 ongoing local jobs on top of 300 jobs during construction.” he said.

The FID is supported by compelling Definitive Feasibility Study outcomes, credit approval for $320 million in project debt and an $80 million cost overrun facility from Government agencies, the Northern Australia Infrastructure Facility, and Export Finance Australia, and $120 million fully underwritten equity raising by Bell Potter Securities Limited and Macquarie Capital (Australia) Limited, as well a share purchase plan (SPP).

In addition to the government debt and strong equity support including Orica, Alpha HPA has received non-solicited approaches for the provision of alternative and non-dilutive financing arrangements from a number of parties. These include advanced proposals for alternative financing to fund any further Stage 2 capital requirements.

“This decision to proceed with commercialisation of the Stage Two HPA First Project and the successful project financing represents a major step-change in the business growth. We are delighted to receive comprehensive financing support from the Australian Government and from new and existing shareholders,’’ Mr Kairaitis said.

“The feasibility study and financing represent a comprehensive endorsement of the Company’s technology and business strategy and allows for Alpha HPA 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,’’ he said.

Alpha HPA’s proprietary process technology offers a unique opportunity to manufacture a wide range ultra-high purity aluminium material that are cost competitive, low-carbon and which leverages off established industrial infrastructure in Gladstone.

The innovative process 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.

In parallel, Alpha HPA continues to advance its complementary downstream Alpha Sapphire business, completing installation of the initial two sapphire growth units and commencing first crystal growth.

Ends.

Media contact: Ellie Blumel – +61 (0) 448 122 948 or eblumel@alphahpa.com.au

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