PERTH (miningweekly.com) – Junior FYI Resources has inked a memorandum of understanding (MoU) with aluminium major Alcoa to potentially develop FYI’s High Purity Aliumina (HPA) project, in Western Australia.
The two companies will explore the possibility to jointly develop the HPA refining project, as well as to establish offtake customers into the HPA markets.
“We are very pleased to have the involvement of Alcoa, one of the world’s most successful alumina producers, to potentially partner in developing our HPA project,” said FYI MD Roland Hill.
“They will join us in co-developing the HPA process flowsheet and refining technologies, and commercialising the HPA business model as outlined in our recent definitive feasibility study (DFS).
“This represents a significant step forward in our project development and is consistent with our broader development objective of attracting globally significant and strategic blue chip partners to work alongside FYI in commercialising our HPA.”
The DFS into the HPA project estimated that some 8 000 t/y of HPA could be produced from the integrated operation over a mine life of some 25 years, at a capital cost of $198-million.
The integrated project is expected to generate annual earnings before interest, taxes, depreciation and amortisation of $133-million and cash flows of $88-million.