Pittsburgh aluminium pioneer Alcoa Corporation said this week that its subsidiary Alcoa of Australia Limited has opted to end their joint development agreement for high-purity alumina with FYI Resources Ltd.
The agreement was brokered in 2021 on the pilot project to develop HPA in commercial quantities. The process was initially slated to have three phases, with one phase complete. Alcoa of Australia contributed about US$5 million for the first stage. However, with Alcoa of Australia’s departure, the final two stages are not going to go forward.
Renato Bacchi, Executive Vice President and Chief Strategy & Innovation Officer, did not disclose a reason for the end of the partnership in a press release.
“While our work with FYI has demonstrated the merit of the process to produce high purity alumina, Alcoa has decided not to pursue a development pathway with FYI at this time. We thank the FYI team for their collaboration and the successful pilot trials completed during the first phase of the project.”
Alcoa of Australia will still have access to intellectual property, data, and other assets related to the project along with FYI.
