- Alcoa and FYI Resources sign binding high purity alumina joint venture term sheet
- JV aligns with McGowan Government's Future Battery Industry Strategy
The McGowan Government has welcomed the signing of the binding high purity alumina (HPA) joint venture term sheet between Alcoa and FYI Resources.
HPA is a processed alumina product, with a purity of 99.99 per cent or higher, used to manufacture LEDs, mobile phones, television screens, and battery and power storage components.
The companies' term sheet sets out a pathway to develop a demonstration plant and a primary production facility to produce and supply HPA to meet the rapidly-growing global demand.
The primary production facility is proposed to be located within the Kwinana and Rockingham industrial area.
Today's announcement aligns with the McGowan Government's Future Battery Industry Strategy, which aims to support further value-adding of Western Australia's battery and critical minerals locally.
Western Australian and international companies are already progressing plans to move downstream in the battery and critical minerals value chain, including further processing lithium and nickel locally to produce lithium hydroxide and nickel sulphate.
For more information on the Future Battery Industry Strategy, visit https://www.jtsi.wa.gov.au/fbis
Comments attributed to State Development, Jobs and Trade Minister Roger Cook:
"It's great to see Alcoa and FYI Resources working towards a project that will help diversify our economy, and create more jobs for Western Australians.
"Western Australia has enormous potential to become a world-leader in downstream processing and advanced manufacturing, and this project will contribute towards that goal.
"The announcement reinforces the importance of the Government's commitment to establishing a globally advanced manufacturing hub between Henderson and Rockingham where Alcoa's existing alumina refinery is located."
Comments attributed to Mines and Petroleum Minister Bill Johnston:
"The McGowan Government welcomes the signing of the joint venture term sheet between Alcoa and FYI Resources to explore high purity alumina, with Alcoa already having a long history of exporting high-quality minerals to the world.
"High purity alumina plays an important role in the manufacturing of a range of applications, including batteries, and Western Australia has a strong opportunity to contribute towards the global supply of this product."
