Alpha HPA secures major financing support

Alpha HPA (ASX:A4N) has secured $400 million financing support from the Australian government to advance its Gladstone-based HPA First Project.

The company has received conditional approval for $320 million in project loan facilities and an $80 million cost overrun facility. The funding will be directed at the construction of stage two of the HPA First Project, which builds on the already operational stage one facility to establish full commercial scale operation. 

The funding will assist Alpha HPA in entering full-scale production of over 10,000 tonnes of high-purity aluminium products per year, creating 120 ongoing local jobs on top of 300 jobs during construction. 

Alpha HPA reports the facilities will be jointly funded by Australian government financing agencies Northern Australia Infrastructure Facility (NAIF) and Export Finance Australia (EFA), with support provided under the Australian government’s $4 billion Critical Minerals Facility (administered by EFA) and EFA’s Commercial Account. 

Alpha’s Managing Director Rimas Kairaitis says the funding represents a comprehensive endorsement of the company. 

“This financing support represents a comprehensive endorsement of the Company’s technology and business strategy,” he says.

“This key milestone brings Alpha HPA one step closer to establishing Australia’s first, sovereign, large scale commercial capability to manufacture high purity alumina’s and related products to support key high technology growth sectors driving the global energy transition.

This support, combined with the deep and positive end-user engagement, consolidates our confidence in this unique business opportunity.”

The company says its proprietary process technology offers an opportunity to manufacture a wide range of ultra-high purity aluminium materials that are cost competitive, low-carbon and which leverages off established industrial infrastructure in Gladstone. 

The process allows for the extraction and purification of aluminium from industrial feedstock, producing materials of exceptional purity for high-technology applications, including the semiconductor, lithium-ion battery, and LED lighting sectors.  

Write to Adam Orlando at Mining.com.au

Images: Alpha HPA
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Written By Adam Orlando
Mining.com.au Editor-in-Chief Adam Orlando has more than 20 years’ experience in the media having held senior roles at various publications, including as Asia-Pacific Sector Head (Mining) at global newswire Acuris (formerly Mergermarket). Orlando has worked in newsrooms around the world including Hong Kong, Singapore, London, and Sydney.