Altech Chemicals settle the purchase of Meckering mining lease freehold land

Altech Chemicals Limited has been aiming to become one of the world’s largest suppliers off 99.99 per cent (4N) high purity alumina (HPA), a  high value, high margin and highly demanded chemical ingredient required for synthetic sapphire production. With that aim, it had exercised its options to purchase the freehold land on October 17, 2017. But the settlement of the purchase was subject to a number of conditions including the subdivision of the registered land title, the issuing of title certificates for the new lots created, and the final payment of the purchase price.

Today the company announces that it now wholly owns subsidiary Altech Meckering Pty Ltd. after completing approximately 92 hectares of freehold land purchase, covering granted mining lease M70/1334, at Meckering, Western Australia.

This is a great development for the company towards achieving the dream of becoming world’s largest suppliers of high purity alumina. Kaoline ore from the company’s meckering mining lease would provide feedstock for its proposed Malaysian high purity alumina plant. The Meckering kaolin mine is fully permitted with the construction of kaolin screening and loading facility able to proceed upon completion of the balance of project financing.

Managing director Mr Iggy Tan said, "Finalising the purchase of the freehold land covering granted mining lease M70/1334 marks the completion of another important milestone in the advancement of our HPA project. The land purchase will ensure unimpeded access to M70/1334 for Altech. The proposed Meckering kaolin mine is fully permitted and construction of the kaolin screening and loading facility and initial mining can proceed once the balance of project finance is secured."