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Altech Chemicals Ltd.
Summary
| Project: | High Purity Alumina (HPA) | |
|---|---|---|
| Deposit: | High Purity Alumina (HPA) | |
| Location: | Australia | |
| Commodities: | Aluminium | |
| Date: | 10/23/2017 | |
| Report Code: | JORC | |
| Report Type: | Optimisation Study | |
| Project Stage: | Mine Development | |
| Report details: | 23-10-2017: Altech Chemicals Ltd. announces a Optimisation Study report for its High Purity Alumina (HPA) deposit at the High Purity Alumina (HPA) project. Final investment decision study for HPA. Altech Chemicals Limited (Altech/the Company) (ASX: ATC) ( | |
| Resources: | (Reserve, P+P): 1.22Mt @ 30.0% Al2O3 at project | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | Altech Chemicals Limited (Altech/the Company) (ASX: ATC) (FRA: A3Y) is pleased to announce the positive results from a Final Investment Decision Study (FIDS) for the development of a 4,500tpa high purity alumina (HPA) plant at Johor, Malaysia and kaolin mine at Meckering, Western Australia (the Project). The FIDS incorporates up-to-date project assumptions including the final capital cost estimate. The estimate includes: a fixed-price lump-sum engineering, procurement and construction (EPC) contract value for the construction of the Malaysian HPA plant by a consortium led by German engineering firm SMS group GmbH (SMS); and a fixed-price lump-sum EPC contract value for construction of the Meckering kaolin container loading facility by Perth based Simulus Engineering Pty Ltd. In addition the capital cost estimate includes owner costs during HPA plant commissioning and the initial kaolin mining campaign. HPA plant capacity is now 4,500tpa (was 4,000tpa) and assumptions for operating costs, HPA selling price, HPA plant production ramp-up, exchange rates, total envisaged debt, and the expected German government export credit finance amount have been updated in the FIDS to reflect current conditions and outlooks. The Company is extremely pleased with the achievement of this significant milestone of project development. Altech’s management team have successfully progressed the Project through the extensive lender due diligence process, with an extremely positive outcome. Whilst the due diligence process has taken longer than expected and has resulted in additional capital cost, the Project has been significantly de-risked as a result. The transition to SMS as EPC contractor has been seamless. The final fixed-price lump-sum EPC contract that includes completion guarantee, throughput and process/quality guarantees is an exceptional outcome. | |
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