Sponsored

FYI Resources (ASX:FYI) steps into second phase of HPA trials

Highlights

  • FYI Resources entered into the second phase of the extended HPA pilot plant trial with Alcoa.
  • The Company has completed the first phase of the extended pilot plant trial.
  • The resource player has submitted HPA samples from the first-week trials for independent and high-definition analysis.

Australia-based High Purity Alumina Producer (HPA) FYI Resources Limited (ASX:FYI; OTCQX:FYIRF; FSE:SDL) announced entering into the second phase of the extended HPA pilot plant trial on Tuesday.

The Company's signature move is in line with the successful completion of the first trial phase (Phase 1). The ongoing extended pilot plant campaign is being undertaken in collaboration with Alcoa of Australia for the development and commercialisation of FYI’s proprietary innovative HPA refining process.

Pilot plant operations

Triggered by the announcement, shares of FYI surged as much as ~10.909% to trade at AU$0.305 per share.

Related Article: FYI Resources (ASX:FYI) embarks on extended HPA pilot plant trial

Series of four, one-week pilot plant trials

In the current phase, the HPA player will undertake a series of four, one-week pilot plant trials. The second week will continue under normal design criteria with minor twists and refinements to test various operating objectives and assumptions.

FYI has already submitted the HPA samples from the first-week trials for independent and high-definition analysis. Results of the analysis are expected shortly and the Company will update the market after receiving the results.

Related Article: FYI Resources Limited inks binding term sheet with Alcoa for HPA development

Collaboration between FYI and Alcoa

FYI has announced an updated feasibility study in April 2021 for the production of High Purity Alumina using an advanced and innovative flowsheet that demonstrated outstanding economic metrics and technical merits of the project.

HPA Project timeline

Having finalised an MoU with Alcoa of Australia in August 2020, FYI finalised a binding term sheet in October 2021 for the joint development of the HPA project. This also includes a fund allocation of up to US$243 million of the anticipated capital expenditure of US$250 million for 65% of the project equity.

FYI’s plan for HPA

FYI envisions emerge as one of the leading producers of 4N and 5N HPA in a swiftly rising high-tech product market.

Related Article: FYI Resources Limited (ASX:FYI) and Alcoa agrees to extend HPA JV Exclusive Agreement

High Purity Alumina is an important component in various high-tech products, including electric vehicles. Additionally, HPA is also very important for the static energy storage market, where it is used as a separator material between cathode and anode in batteries to enhance the performance, functionality, and safety of battery cells.

Comment


Disclaimer

Ad

GET A FREE STOCK REPORT


Top Penny Picks under 20 Cents to Fit Your Pocket! Get Exclusive Report on Penny Stocks For FREE Now.


   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK