FYI Resources has reportedly signed a memorandum of understanding (MoU) with Alcoa of Australia to advance the development of high purity alumina (HPA) refining technologies. FYI has already started developing a process for producing high-quality HPA in the face of a limited supply of the product.
The new agreement between Alcoa and FYI Resources is supposedly seeing the possibility of commercialising HPA refining project and establishing offtake customers into HPA markets. Having both the company’s technical capabilities and capacities in producing alumina, the agreement is also expected to lead to a joint venture in the future.
FYI managing director Roland Hill is pleased to have signed an agreement with Alcoa, one of the world’s most successful alumina producers, to potentially develop its high purity alumina project.
“They will join us in co-developing the HPA process flowsheet and refining technologies, and commercialising the HPA business model as outlined in our recently published definitive feasibility study (DFS),” Hill said.
He added, “This represents a significant step forward in our project development and is consistent with our broader development objective of attracting globally significant and strategic blue-chip partners to work alongside FYI in commercialising our HPA.”
Alcoa has an alumina refinery capacity of 17 million tonnes a year. Earlier this year, the company revealed plans to expand its Pinjarra alumina refinery in Western Australia from 5 million tonnes a year to 5.25 million tonnes.
Alcoa’s three-refinery operation in Western Australia is the world’s biggest single source of alumina, accounting for 8 per cent of the total global market.
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