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- FYI Resources (FYI) has completed its high purity alumina (HPA) pilot plant trial in collaboration with Alcoa of Australia
- Analytical results from the trial surpassed expectations, by indicating an average aluminium oxide purity of 99.998 per cent
- FYI Resources will send HPA samples to several potential offtake parties for further product qualification
- This trial at FYI’s pilot plant has fulfilled one of the conditions set down in the company’s MOU with Alcoa
- FYI Resources is down 6.93 per cent and trading at 47 cents per share
FYI Resources (FYI) has recently completed its high purity alumina (HPA) pilot plant trial in collaboration with Alcoa of Australia.
The various samples of HPA showed varying grades of purity, ranging from a low of 99.992 per cent to a high of 99.999 per cent. Overall, the analytical results from the trial surpassed expectations, by indicating an average aluminium oxide purity of 99.998 per cent.
In addition to demonstrating the effectiveness of FYI’s HPA refining process, the trial has also fulfilled one of the conditions set down in the company’s MOU with Alcoa. In September 2020, the two companies signed a Memorandum of Understanding that could lead to a potential joint development of FYI’s refining project.
However, the progression of the joint venture depended on the pilot plant variability trials being successful, a condition that has now been satisfied.
FYI Resources’ Managing Director, Roland Hill, said the company is delighted with the exceptional HPA analysis results from the joint pilot plant trial.
“The achievement continues to demonstrate the outstanding qualities of our flowsheet in delivering consistent and reliably high-quality HPA product – a key requirement from a customer perspective,” he said.
“FYI is encouraged by the outcomes of the pilot plant and will continue to progress with the development of our HPA strategy and advancing the MOU conditions with Alcoa,” he added.
The company will soon send samples of the trial HPA to several potential offtake parties for further product qualification. In particular, FYI hopes to enter offtake agreements for its HPA with partners in the LED lighting and lithium-ion battery markets.
FYI Resources is down 6.93 per cent, trading at 47 cents per share at 10:53 am AEDT.
