Impact Minerals (ASX:IPT) receives federal boost for critical HPA project

Impact Minerals (ASX:IPT) receives federal boost for critical HPA project

October 22, 2024 Off By MarketOpen

In a notable move for Australia’s critical minerals sector, Impact Minerals (ASX:IPT) has secured $2.87 million in federal funding to further develop its Lake Hope High Purity Alumina (HPA) Project in Western Australia.

This collaboration with CPC Engineering and Edith Cowan University’s Mineral Recovery Research Centre (MRRC) promises to position the company at the forefront of the global HPA market, which is increasingly vital to industries like electronics and energy storage.

The funding comes through the Cooperative Research Centres Projects (CRC-P) program, designed to encourage industry-led research collaborations.

The total $6.4 million research and development project, of which Impact Minerals is contributing $1.7 million, focuses on refining the innovative process for HPA production and includes the construction of a pilot plant set for 2025.

Strategic Investment in Australia’s Critical Minerals

Managing Director Dr Mike Jones described the project as a “transformative initiative,” aligning with Australia’s strategic push into critical minerals production. “We are immensely proud to drive this transformative project, which aligns with and advances Australia’s strategic interests in critical minerals. 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,” he said.

HPA, listed as a critical mineral by Australia, Europe, and North America, is essential for high-tech applications, particularly in LEDs and batteries.

As the global demand for sustainably produced, high-purity alumina grows, Impact’s project stands to deliver a competitive, low-carbon product that meets this need.

A Technological Game Changer

The Lake Hope project is set to generate high-purity alumina along with environmentally friendly fertiliser by-products, made possible through Impact’s innovative metallurgical processes.

A key aspect of this development is the use of cutting-edge Membrane Selective Technology (MST), which is designed for water and reagent treatment and is expected to be a game changer for HPA production by significantly reducing operating costs while minimising environmental impact, according to Associate Professor Amir Razmjou of Edith Cowan University.

The pilot plant, under the management of CPC Engineering, will be central to the next phase of feasibility studies, advancing the project towards full-scale implementation.

Eugenia Phegan of CPC, who has extensive experience in building HPA pilot plants, recognised the potential of MST for the Lake Hope project, noting that it “adds to the overall small environmental footprint of the Lake Hope project.”

Setting a New Standard in Sustainability

One of the standout features of the Lake Hope project is its minimal environmental impact, as the innovative process eliminates the need for on-site beneficiation, leading to exceptionally low Scope 1 and Scope 2 CO2 emissions—a key factor in drawing ESG-conscious investors.

Additionally, Impact Minerals is working towards designing a “zero-liquid discharge” system to completely eliminate waste, further enhancing the project’s strong environmental credentials.

With off-take and qualification trials set to commence shortly after the pilot plant’s construction, Impact Minerals is poised to make a significant mark in the global HPA market, aligning its innovative solutions with the world’s growing need for critical, sustainable minerals.

Please note the following valuable information before using this website. 

Independent Research 

Market Open Australia is intended to be used only for educational and informative purposes, and any information on this website should not be taken as investment advice or guidance. It is important to conduct your own research before making any investment decisions, which should be based on your own investment needs and personal circumstances. Any investment decisions based on information contained on this website should be taken in line with independent financial advice from a qualified professional or should be independently researched and verified.