Critical minerals funding helping future projects

The Federal Government will provide $400m in loans to Alpha HPA (ASX: A4N) to deliver the country’s first high-purity alumina processing facility in Queensland.

Alpha HPA will use Australian-owned intellectual property and technology to process high-purity alumina which is used on LED lighting, semiconductors and lithium-ion batteries amongst other high-tech applications.

The loans will be provided by Export Finance Australia (EFA) through the Federal Government’s $4b critical minerals facility, plus the Northern Australia infrastructure facility and EFA’s commercial account.

Alpha HPA managing director Rimas Kairaitis says the company is delighted to receive the funding.

“We are delighted to receive extensive and attractive financing support from the Australian Government. This financing support represents a comprehensive endorsement of the company’s technology and business strategy,” he said.

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

The Federal Government has also conditionally approved $185m to Renascor Resources (ASX: RNU) to fast track the development of stage one of its Siviour graphite project in South Australia.

Renascor will deliver sustainable and ethically sourced production of Australian-made purified graphite for use in lithium-ion batteries required for electric vehicles and renewable technologies.

Renascor managing director David Christensen commented on the approval.

“Our phased development strategy provides us with an early-mover advantage by entering the market with reliable supply of natural graphite concentrates from Australia,” he said.

“The support from the Australian Government and EFA is testament to the gravity of the opportunity for Renascor, and Australia, to become a world-leading supplier of graphite into the lithium-ion battery supply chain.”

Federal Resources Minister Madeleine King commented on the grants.

“Australia’s critical minerals and rare earths are key to building renewable technologies such as solar panels, batteries and wind farms, as well as defence and medical technologies,” she said.

“The road to net zero runs through Australia’s resources sector.”