Alcoa of Australia Ltd. (AoA), a subsidiary of Alcoa Corp., recently entered into an agreement with Western Australia-based FYI Resources Ltd. for the development of high-purity alumina (HPA).
The HPA market is forecasted to grow by nearly 20 percent by 2028. AoA will hold a 65 percent ownership, fund its pro-rata share of project capital and make additional contributions to the demonstration and production facility construction costs.
The project will have three phases. In phase one, AoA will contribute $5 million to development activities that will include additional production trials and a detailed design of a facility. Phase two, will be the construction of a demonstration facility and detailed engineering undertaken for a full-scale plant. Phase three will be the construction of an approximately $200 million, 8,000 metric-ton-per-year HPA plant in 2024.
“As a high-value product that will play an important role in a low-carbon future, the production of HPA is strategically aligned with Alcoa’s commitment to advance sustainably,” Tim Reyes, Alcoa executive vice president and CCO, said. “This project is a natural complement to Alcoa’s existing business that builds on our expertise in alumina refining technology development and our production capability.”
Market applications for alumina include mobile devices, LED lighting, and lithium ion batteries used in electric vehicles.