Alpha HPA, a developer of high-purity alumina (HPA) products, has made a final investment decision (FID) to proceed with Stage Two of the HPA First Project in Gladstone, Queensland in Australia.
This decision positions the company to establish the world's largest single-site HPA refinery.
The FID follows a three-year marketing campaign, successful operation of Stage One and a re-engineered design for Stage Two to meet customer needs and expand the product range.
Alpha HPA managing director Rimas Kairaitis said: “Construction of the ten-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.
“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.”
Alpha HPA said the latest decision is underpinned by positive DFS outcomes and securing A$520m for the project development.
The financing incudes project debt credit approval of A$320m, an A$80m cost overrun facility from government agencies and a A$120m equity raise.
The company has also received proposals for alternative financing to support the capital requirements of the Stage Two of the HPA project.
Alpha HPA's proprietary technology allows for cost-competitive, low-carbon production of ultra-high purity aluminium materials, leveraging Gladstone's industrial infrastructure. The process extracts and purifies aluminium from industrial feedstock for use in high-tech sectors.
Kairaitis added: “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.”
Additionally, Alpha HPA is progressing its Alpha Sapphire business, with the installation of sapphire growth units and the starting crystal growth.
Last year, the Queensland Government announced A$21m in funding to Alpha HPA for the second stage of the HPA First project.
