Altech Chemicals MD Iggy Tan to present at Proactive's Sydney, Melbourne Luncheons

Altech Chemicals is securing required equity and debt funding to advance its High Purity Alumina (HPA) project towards final design and development.

This follows completion of the Bankable Feasibility Study that demonstrated that the project offers a real alternative to current Chinese and Japanese producers.

Shares in the company have risen 45% since early June. Managing director Iggy Tan will present at Proactive's Sydney, Melbourne Investor Luncheons in August.

Altech’s project seeks to produce alumina or aluminium oxide from kaolin. The company’s wholly-owned aluminous clay (‘kaolin’) deposit is located close to the town of Meckering, Western Australia, and is approximately 130 kilometres by road from Perth and about 153 kilometres from the port of Fremantle.

Its land position covers 587 square kilometres and contains a JORC Indicated and Inferred Resource of 65 million tonnes, which is capable of satisfying low cost feedstock for the plant’s requirements well beyond the 30-year timeframe of this BFS.

A mining area has been identified, an open pit designed and a mine plan for an initial 30-year mine life developed.

The proposed Malaysian HPA plant is a single train continuous processing plant, which will provide economies of scale in terms of operating costs and will position Altech as the largest producer of HPA in the world, surpassing Sumitomo Chemicals that currently states its annual HPA production capacity at 3,200 tonnes.

Its location at Tanjung Langsat was chosen based on significant economic and developmental benefits associated with this dedicated industrial park, which includes the ready availability of hydrochloric acid, power and natural gas – all at highly competitive prices, and for its proximity to international container ports and international airports (Johor Bahru and Singapore).