Highlights:

• 2022 has been a very busy period for FYI Resources, which undertook significant developments focused on its world-class integrated high-purity alumina (HPA) project
• FYI believes that downstream opportunities can create additional value-added market applications for HPA
• The company is implementing and operating under positive, sustainable, and societal guidelines to have low-carbon footprint operations
• FYI ended the year with a major milestone, joining the United Nations Global Compact

FYI Resources Limited (ASX:FYI), an ASX-listed emerging critical minerals company, has been on a roll with significant developments last year, committed to its goal of becoming an innovative and fully integrated developer of critical mineral, high purity alumina (HPA).

FYI highlights its HPA process flowsheet as a disruptive technology which, based on its low-carbon emission process, can cater to new-age applications with critical high-purity material.  

The company is developing its innovative, long-life/high-margin HPA project (JDP) in partnership with Alcoa. The defined three-phase pathway to project development is progressing well: 

(Source: © 2023 Krish Capital Pty. Ltd., data source: Company update, 30 November 2022)

2022 key achievements – successful trials, DTC approval

The company has completed Stage One: engineering and has commenced Stage Two: engineering and development. Progressing on Stage Two, the company roped in the services of Hatch Engineering.  

The company completed an extended HPA pilot plant production trial with 99.999% Al₂O₃ purity (5N) achieved. Moreover, the company also wrapped up joint HPA pilot plant production.

The year also saw the company securing access to the largest capital market globally with DTC approval, thus facilitating the real-time electronic clearing and settlement of its shares in the United States.

Encouraging outcomes from HPA anode and separator coatings development program

An electrochemical performance test program highlighted the long-term cycling performance characteristics of FYI’s HPA in enhanced battery technologies, with the results achieving near-theoretical capacity.

Test work was conducted on Ecograf Limited’s (ASX:EGR) graphite doped with additional concentrations of FYI's HPA. The results of the long-cycle performance test highlighted the increased performance of HPA-doped graphite, as shown below:

(Data source: Company update, 4 October 2022)

The initial evaluation of an HPA-enhanced polyolefin separator has also shown HPA utility in separator technology. The reversible capacity of the industry standard material saw an improvement of 7.94 mAh/g when paired with an enhanced HPA polyolefin separator.

These results have also attracted the company’s attention towards pairing the FYI HPA-enhanced separator with FYI HPA-doped EcoGraf’s coated anode to analyse the further enhancement in reversible capacity.

The company believes these downstream opportunities can result in more market applications for HPA.   

FYI's commitments towards sustainable development

The company's commitment towards sustainable development saw a new high in 2022 as it joined the United Nations Global Compact (UNGC), a network of over 16,000 businesses from more than 60 countries.

Environmental, social, and governance (ESG) development is a step towards supporting the sustainability goals laid out by the UNGC. FYI is looking to implement these sustainability principles and goals via its critical minerals project development.

In essence, through its ultra-high-quality and purity HPA, FYI is looking to boost its exposure and leverage to future-looking industries and applications. The company highlights that it remains committed to low-carbon footprint operations with focus on positive sustainable and societal guidelines.

FYI shares were trading at AU$0.140 in the early hours of 5 January 2023.