- FYI Resources (FYI) and Alcoa of Australia continues to see “outstanding quality” at its HPA pilot plant joint venture
- The joint venture uses feedstocks provided by Alcoa and achieved 99.999 per cent purity of aluminium oxide
- FYI and Alcoa have met the objectives of the pilot plant trials and the final trial is no longer needed
- Focus will now be on finalising the engineering phase, bringing the project one step closer to commercialisation
- On the market, FYI is up 1.69 per cent and trading at 30 cents per share
FYI Resources (FYI) has continued to see “outstanding quality” at its HPA pilot plant joint venture with Alcoa of Australia.
The joint venture uses feedstocks provided by Alcoa, ran from January 18th to 25th, and achieved purity from 99.999 per cent to 99.997 per cent aluminium oxide during its week-long operation.
FYI and Alcoa have made strong progress in the development of the HPA project. It was agreed by the parties that the objectives of the extended pilot plant trials have been successfully achieved and that the final pilot plant trial scheduled in the series is no longer warranted.
With the operations phase now complete, the focus will now be finalising the
engineering phase, bringing the project one step closer to commercialisation.
“Achieving 5N is a landmark event. Equally satisfying, however, is that the results of the third pilot plant trial clearly demonstrate the progress being made with our development in terms of increased purity being achieved and the closer operating range providing a much more consistent purity,” Managing Director Roland Hill said.
“Now, with the impressive trial result and the pilot plant phase successfully completed, the joint development team will continue on its clearly defined HPA blueprint pathway and advance the project one stage closer to commercialisation.”
On the market, FYI was up 1.69 per cent and is trading at 30 cents per share at 12:00 pm AEDT.