Australian govt announces investment in high purity alumina producer
SYDNEY: An Australian company said on Thursday it hopes to produce 10,000 tonnes of high purity alumina (HPA) a year after receiving government financing.
The federal government’s National Reconstruction Fund Corporation (NRFC) announced on Thursday it will invest AUD$75 million (US$53.1 million) in Alpha HPA, taking a 6.9% stake in the advanced materials company based in Queensland.
The NRFC said the investment will allow Alpha HPA to complete an expansion to build what it describes as the world’s largest single manufacturing facility for HPA, with an annual production capacity of 10,000 tonnes.
HPA was added to Australia’s list of critical minerals in 2022 and is in strong demand for use in cooling semiconductors that power artificial intelligence data centres.
The expansion of Alpha HPA’s plant in central Queensland will make it Australia’s first commercial-scale operation producing the mineral.
David Gall, chief executive of the NRFC, said Alpha HPA’s technique produces about 70% fewer greenhouse gas emissions than current methods of making HPA. He said: "The NRFC is delighted to be supporting an Australian company that is commercialising breakthrough IP to create products the world and Australia will increasingly need."
The NRFC was established by the federal government in 2023 to provide financing for projects that diversify and transform Australia’s industry and economy.
By RSS/Xinhua
