Altech Chemicals focuses on low-cost High Purity Alumina production

Altech Chemicals is positioned to transition into a leading producer of 99.99% (4N) High Purity Alumina (HPA) at a low cost. The company's focus is to produce HPA directly from kaolin clay which will be sourced from the company’s 100% owned kaolin deposit at Meckering, Western Australia.

Around 70% of HPA demand is in the Asia Pacific region, and Altech’s HPA plant in Malaysia would be well-positioned to benefit. The company has now raised A$1.13 million at A$0.059 for a detailed design phase of the company’s HPA project. A$1 million of the placement went to Malaysian cornerstone investor Melewar IIC Limited.

Melewar's executive chairman, Royal Highness Prince Ya’acob Bin Tunku Tan Sri Abdullah, said that Altech’s High Purity Alumina Project is very exciting, and that he looked forward to assisting the company with its development plans.

Melewar is a diversified Malaysia industrial firm with steel, energy and engineering businesses, and as a result of the placement Melewar will hold 12.9%, and will be the second largest shareholder of the company.

Prince Ya’acob Bin Tunku Tan Sri Abdullah, added: “The potential for Altech to be one of the worlds' leading producers of high purity alumina at a low cost, with its plant in Malaysia is what attracted our attention and has culminated in this investment."

Altech has now raised funds for a detailed design phase of the company’s HPA Project. Around 70% of HPA demand is in the Asia Pacific region, and Altech’s HPA plant in Malaysia would be well-positioned to benefit.

Ya’acob Bin Tunku Tan Sri Abdullah said the project is very exciting, and that he looked forward to assisting with its development plans.