Impact Minerals (ASX:IPT) has announced it will acquire 50% of privately held Alluminous, becoming the group’s largest shareholder as part of its strategy of becoming a high alumina producer.
Alluminous is a newly formed company that has acquired privately held HiPurA — owner of the HiPurA High Purity Alumina (HPA) processing technology that was previously developed by ChemX Materials.
The remaining 50% of Alluminous will be owned by the two founders and inventors of the HiPurA technology, coupled with North American venture capital investors.
Impact, whose share price increased 40% to $0.007 at 2.40pm AEST today, says the total acquisition cost is $2.2 million, which is expected to be received by 28 April 2025. This will be shared equally by Impact and other Alluminous shareholders.
Impact says the ownership structure is anticipated to support the development of the HiPurA process by retaining its original developers’ involvement and may facilitate access to North American capital markets.
Alluminous’ next steps will be focused on showing the technology at a pilot plant scale, followed by expanding to commercial-scale production in North America. Impact notes there is potential for Alluminous to pursue a listing on a North American securities exchange within the next one to two years.
Impact Managing Director Dr Mike Jones says this acquisition represents a rare and strategic opportunity for the company.
“ChemX ultimately failed due to financial issues rather than any technical shortcomings,” Jones says.
“Our due diligence identified a robust, well-designed technology and business plan. The HiPurA process demonstrated innovation, scalability, and then proven ability to produce 4N HPA at the micro-plant scale.
“The associated pilot plant, which is capable of producing at least 25 tonnes of HPA per year, is nearing commissioning. This has the potential to accelerate the time to commercialisation materially.”
Jones adds that HiPurA may serve as a complementary addition to the Lake Hope Project in Western Australia, with plans to explore integration through back-engineering.
“HiPurA technology also provides alternative development possibilities, with potential advantages including faster time to market, multiple feedstock options, and a highly scalable production model,” he says.
“Based on our current assessments, the time savings could be as much as two years, which may be worth millions of dollars.”
Impact notes the original investors of HiPurA will remain actively involved, ensuring continuity in technology development. In parallel, the company’s North American co-investors will contribute financial acumen and market access, particularly in high-value supply chains for batteries, semiconductors, and speciality materials.
“This acquisition provides more than just a process — it gives us real assets, well-credentialed partners, and a faster path to revenue,” Jones adds.
Meanwhile at Lake Hope, a Prefeasibility Study is nearing completion, with final financial modelling and report writing well advanced.
Impact intends to conduct testwork to evaluate the compatibility of Lake Hope feedstock with the HiPurA process, using the same micro-plant used to develop and validate the process, followed by work in the full pilot plant.
The company’s dual-stream HPA strategy combined upstream strength and downstream innovation, positioning Impact at the forefront of the evolving global HPA market.
Write to Aaliyah Rogan at Mining.com.au
Images: Impact Minerals
