Impact Minerals Ltd (ASX:IPT) has won a $2.87 million grant from the Federal Government to facilitate commercialisation of its initiative to produce High Purity Alumina (HPA) from the Lake Hope deposit in Western Australia.
Impact has been undertaking this project in conjunction with CPC Engineering and Edith Cowan University’s Mineral Recovery Research Centre (MRRC), built around the deposit – located 500 kilometres east of Perth.
The Federal government awarded the grant under the umbrella of its Cooperative Research Centres Projects (CRC-P) program, reflecting among other things the designation of HPA as a critical mineral for Australia (as well as the U.S. and Europe).
This funding is part of a wider $6.4M research and development project anticipated for completion within three years; its resulting information will be plugged into Impact’s definitive feasibility study (DFS) for Lake Hope.
Impact managing director Dr Mike Jones thanked Minister for Industry and Science Ed Husic and said that receiving the grant was a reflection of the project’s value.
“We are immensely proud to drive this transformative project, which aligns with and advances Australia’s strategic interests in critical minerals,” he said.
“We thank Minister Husic for his personal interest in the project as this federal funding not only underscores the national importance of our work but also enhances our capability to implement world-leading technologies that set new standards in sustainability and efficiency in the mineral sector.”
Impact shares rose on the news, and at 15:57 AEST, they were trading at 1.3 cents – a rise of 8.33% since the market opened.
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