In October 2021, FYI and Alcoa signed a binding
Term Sheet for development of the HPA project.
- Forecast construction costs for the HPA production facility expected to be met by Alcoa contributions
- Development and funding path to construction and production agreed and de-risked
The partnership derisks the HPA project and Alcoa will provide:
- Organisational and technical excellence
- Disciplined project builder and operator experience
- Global reputation and presence
- Established tier 1 customer base
- Increased product marketing (large global team)
- Continual improvement and efficiency philosophy
“For a junior mining company, the single biggest risks, when developing projects are financing and strategic partnership. FYI is now effectively fully funded.“
– ROLAND HILL, FYI RESOURCES
The Future Batteries Industry Cooperative Research Program (FBI-CRC) was established during 2019 and FYI is an associate partner.
Membership of the FBI-CRC has provided FYI with access to all novel technology and applications via the associated research partners and assist with government funding applications.
FYI was awarded Major Project Status and endorsed as a project of national significance by the Australian Federal Government on the 23rd of June 2021.
The award provides formal recognition for FYI’s innovative high purity alumina (HPA) project. The award acknowledges FYI’s innovation and the potential for the HPA project to positively contribute to the economic prosperity of Australia.
Lead Agency status of the WA Department of Jobs, Tourism, Science and Innovation (JTSI) was awarded to FYI by the Premier of Western Australia, Mr Mark McGowan on 23 September 2021.