Impact Minerals Limited has raised about AUD 2 million (USD 1.37 million) from existing and new investors to advance its high-purity alumina plans and support ongoing project development amid market volatility.

It is also progressing its Lake Hope HPA project towards feasibility in collaboration with Edith Cowan University, while integrating the Alluminous HiPurA® process to develop a scalable and cost-competitive production route. The company also continues to support Alluminous, where the HiPurA® technology is advancing with pilot plant commissioning underway in continuous mode.

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In addition to HPA, the company is exploring the possibility of producing sulphate of potash fertiliser and hydrochloric acid from lake clay deposits in the Lake Hope–Salmon Gums region. Early studies suggest that this could become a separate project or be developed along with the HPA project. 

The region appears to contain a broader mineral system that can support the production of multiple industrial products. This may provide flexibility in project development and reduce dependence on a single product.

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Managing Director Mike Jone said, “The strong support we have received from both existing shareholders and new investors in the recent capital raising is an important endorsement of this strategy and provides us with the ability to continue advancing multiple workstreams in parallel.”

Recent global events, especially in the Middle East, have shown that supply chains for fertilisers and industrial chemicals can be uncertain. Australia depends on imports for sulphate of potash, and there is a limited supply of hydrochloric acid in Western Australia. This highlights the need to develop domestic sources of these materials.

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The funds will be used for several purposes. About USD 342 thousand will go towards feasibility studies and test work, and another USD 342 thousand will be invested in technology through Alluminous. Around USD 171 thousand will be used for exploration at the Broken Hill project. In addition, USD 432 thousand will be allocated for working capital, while USD 82 thousand will cover the costs of the placement.

The company issued 40 million shares at AUD 0.05 (USD 0.034) each, which is about 21 per cent below the recent average price.

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The project will be supporting the domestic supply of industrial materials, as Australia currently depends on imports for fertilisers and has a limited supply of some chemicals.

High-purity alumina (HPA) is a premium, white, non-metallurgical alumina powder with 99.99 per cent purity levels. It is used in industries such as batteries, semiconductors, and advanced ceramics.