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ion Batteries",74.53,71.3,4.53,-1.6,-20.88,[345,346,348,351,354,357,360,363,366,368,371,374],{"date":337,"value":339},{"date":347,"value":340},"2025-02-28",{"date":349,"value":350},"2025-01-31",71.45,{"date":352,"value":353},"2024-12-31",75.74,{"date":355,"value":356},"2024-11-29",76.98,{"date":358,"value":359},"2024-10-31",77.34,{"date":361,"value":362},"2024-09-30",77.43,{"date":364,"value":365},"2024-08-30",80.56,{"date":367,"value":207},"2024-07-31",{"date":369,"value":370},"2024-06-28",87.2,{"date":372,"value":373},"2024-05-31",90.7,{"date":375,"value":376},"2024-04-30",93.2,"/battery-gigafactory/prices",{"publishedDate":379,"updateFrequency":6,"updateFrequencyText":7,"label":380,"today":381,"last":382,"percentageChange":383,"yearToDate":384,"yearOnYear":385,"oneYearIndexTrend":386,"url":418,"subscription":49,"isProtected":50,"hasAccess":51},"2026-10-08","Black 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Earths",172.08,171.72,0.21,20.59,30.21,[427,428,430,433,436,439,442,445,448,451,454,457],{"date":262,"value":421},{"date":429,"value":422},"2026-10-01",{"date":431,"value":432},"2026-09-03",170.83,{"date":434,"value":435},"2026-08-20",169.63,{"date":437,"value":438},"2026-08-06",172.28,{"date":440,"value":441},"2026-07-23",173.94,{"date":443,"value":444},"2026-07-09",171.69,{"date":446,"value":447},"2026-06-25",168.55,{"date":449,"value":450},"2026-06-11",165,{"date":452,"value":453},"2026-05-28",163.89,{"date":455,"value":456},"2026-05-14",172.63,{"date":209,"value":458},175.6,"/rare-earths/prices",{"publishedDate":198,"updateFrequency":187,"updateFrequencyText":188,"label":461,"today":462,"last":463,"percentageChange":464,"yearToDate":465,"yearOnYear":466,"oneYearIndexTrend":467,"url":377,"subscription":49,"isProtected":50,"hasAccess":51},"NCM 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High-Nickel",144.45,149.67,-3.49,26.69,49.06,[498,499,500,502,504,506,508,510,512,514,516,518],{"date":198,"value":492},{"date":200,"value":493},{"date":203,"value":501},157.37,{"date":206,"value":503},160,{"date":209,"value":505},149.53,{"date":212,"value":507},141.97,{"date":215,"value":509},136.99,{"date":218,"value":511},129.81,{"date":221,"value":513},114.02,{"date":224,"value":515},109.17,{"date":227,"value":517},109.02,{"date":255,"value":519},99.44,{"publishedDate":198,"updateFrequency":187,"updateFrequencyText":188,"label":521,"today":522,"last":523,"percentageChange":524,"yearToDate":525,"yearOnYear":526,"oneYearIndexTrend":527,"url":377,"subscription":49,"isProtected":50,"hasAccess":51},"LFP",229.17,218.34,4.96,49.35,83.44,[528,529,530,532,534,536,538,540,542,544,546,548],{"date":198,"value":522},{"date":200,"value":523},{"date":203,"value":531},239.1,{"date":206,"value":533},258.32,{"date":209,"value":535},239.37,{"date":212,"value":537},213.01,{"date":215,"value":539},204.49,{"date":218,"value":541},218.06,{"date":221,"value":543},153.45,{"date":224,"value":545},134.02,{"date":227,"value":547},118.22,{"date":255,"value":549},111.93,{"id":551,"uuid":552,"name":553,"slug":554,"full_slug":555,"content":556,"relatedArticles":831,"relatedVideos":832},112474374630304,"2bedaf3e-8953-43f4-9d6b-0005848fa380","THE NTH DEGREE","the-nth-degree","article/the-nth-degree",{"_uid":557,"date":558,"tags":559,"editor":560,"content":570,"excerpt":810,"featured":50,"reporter":811,"_editable":815,"component":816,"seo_title":553,"categories":817,"visibility":824,"author_company":49,"featured_image":825,"seo_description":810,"author_full_name":49,"author_job_title":49,"formattedDate":829,"formattedArticleDate":830},"3a836515-d51f-48b3-beff-ce4d3e3731a0","2019-05-12 00:00",[],[561],{"slug":562,"name":563,"content":564},"didi-bostock","Didi Bostock",{"job_title":565,"image":566,"bio":568,"linkedin":569},"Editor - Energy Transition & Economics",{"filename":567},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":571,"content":572},"doc",[573,583,588,595,600,609,614,619,624,631,638,645,650,657,662,667,673,680,685,690,696,701,707,712,717,724,729,736,741,746,752,757,762,768,773,778,783,789,794,799,805],{"type":574,"attrs":575,"content":576},"paragraph",{"textAlign":49},[577],{"text":578,"type":579,"marks":580},"In the last issue of the Benchmark Quarterly Review we covered the increasing use of high purity alumina (HPA) – characterised by purity levels such as 99.99% (4N) and 99.999% (5N) – in LEDs and its latest role as a separator material in lithium ion batteries. Here we speak to Roland Hill, Managing Director of FYI Resources, about the HPA market and the company’s plans.","text",[581],{"type":582},"italic",{"type":574,"attrs":584,"content":585},{"textAlign":49},[586],{"text":587,"type":579},"Benchmark: Many of Benchmark’s readers will be new to high purity alumina (HPA). Please could you provide an overview of HPA’s properties and the types of applications it is best used for?",{"type":574,"attrs":589,"content":590},{"textAlign":49},[591,593],{"text":592,"type":579},"Roland Hill: ",{"text":594,"type":579},"High purity alumina is referenced as alumina having a purity of 99.99% Al2O3 or higher. Apart from the ultra-pure grade, HPA has a combination of properties and characteristics that makes the mineral unique and ideally suited to certain traditional applications as well as an increasing amount of various ‘new age’ technology applications that require certain high-quality material specifications.",{"type":574,"attrs":596,"content":597},{"textAlign":49},[598],{"text":599,"type":579},"The more traditional applications usage is in items such as substrates for LED lights, scratch resistant glass for watch faces, smart phone screens and other electric devices, for example, however, the more exciting areas that are demonstrating higher demand growth are in the electric vehicle (EV), battery and static power storage markets where it has a faultless specific.",{"type":574,"attrs":601,"content":602},{"textAlign":49},[603],{"type":604,"attrs":605},"image",{"id":49,"alt":606,"src":607,"title":49,"source":49,"copyright":49,"meta_data":608},"","https://a.storyblok.com/f/287943243085208/db9a1d85df/bm-arseni-mourzenko-strip-light.jpg",{},{"type":574,"attrs":610,"content":611},{"textAlign":49},[612],{"text":613,"type":579},"HPA is traditionally used in LED lights but has a growing role in battery separators. Credit: Arseni Mourzenko.",{"type":574,"attrs":615,"content":616},{"textAlign":49},[617],{"text":618,"type":579},"The properties that make HPA an ideal component in specific applications include its hardness and wear resistance, high thermal temperature resistance (up to 14000C), corrosion resistance and excellent electrical insulation performance (up to 8,000v per mm thickness). These properties make HPA an excellent component in the production of industrial synthetic sapphire glass and an integral element in the role of battery separators.",{"type":574,"attrs":620,"content":621},{"textAlign":49},[622],{"text":623,"type":579},"Benchmark: LEDs have been a boom market for HPA over recent years, but its use in battery separators is set to increase. How has the HPA market developed in recent years and what developments can we see going forward?",{"type":574,"attrs":625,"content":626},{"textAlign":49},[627,629],{"text":628,"type":579},"RH: ",{"text":630,"type":579},"Certainly the traditional applications such as LED and sapphire glass have underpinned the demand for HPA, however, the forecast increase in demand has largely been brought about by the increasing market requirement for both performance and safety of batteries with a heavy duty, such as mobile phones and electric vehicles.",{"type":574,"attrs":632,"content":633},{"textAlign":49},[634,636],{"text":635,"type":579},"The battery cell technology has evolved quickly in recent times; so too has the development of the battery separator and",{"text":637,"type":579},"now the examination of HPA in the use of lining the anode, cathode and even the cell lining. HPA is quickly becoming the go-to material as the primary use in the separator for both performance and safety. HPA is becoming an integral part in the battery due to its unique properties.",{"type":574,"attrs":639,"content":640},{"textAlign":49},[641,643],{"text":642,"type":579},"For example, the objective of battery manufacturers is to minimise the size and weight of batteries whilst trying to increase the power output and longevity. The price metrics of each unit is also an economic constraint that needs to be considered. With the exceptionally high level of thermodynamic and exothermic heat being generated by the units, it is critical that the components preserve mechanical integrity at high temperatures. The separator plays a critical role in obtaining optimum cell performance and the inherent safety of",{"text":644,"type":579},"the cell in preventing a catastrophic cell thermal runaway. HPA is playing a major role in the gradual in improvement in battery technology.",{"type":574,"attrs":646,"content":647},{"textAlign":49},[648],{"text":649,"type":579},"Benchmark: FYI Resources successfully completed a PFS for its Cadoux Kaolin project in Western Australia in September 2018. Can you let us know what you found?",{"type":574,"attrs":651,"content":652},{"textAlign":49},[653,655],{"text":654,"type":579},"RH",{"text":656,"type":579},": The Cadoux PFS was a substantive economic review with very positive results, demonstrating a superior investment case project. We are building upon this with our current BFS. In summary, the PFS delivered a high margin project with a 50-year mine life and an after-tax US$506m NPV (at a 10% discount), after-tax IRR of 46%, an annual EBITDA of US$128m and a project payback period of 3.6 years.",{"type":574,"attrs":658,"content":659},{"textAlign":49},[660],{"text":661,"type":579},"These results place FYI at the forefront of the HPA production asset class and suggest FYI will be a supplier of choice due to the quality and purity of the HPA that we intend to produce under our production strategy.",{"type":574,"attrs":663,"content":664},{"textAlign":49},[665],{"text":666,"type":579},"Benchmark: After the PFS what can we expect next for FYI Resources?",{"type":574,"attrs":668,"content":669},{"textAlign":49},[670,671],{"text":628,"type":579},{"text":672,"type":579},"FYI has a very active 6 – 12 months ahead.",{"type":574,"attrs":674,"content":675},{"textAlign":49},[676,678],{"text":677,"type":579},"Following the positive results in the PFS, we recognised that our proposed integrated HPA strategy demonstrated all the hallmarks of a potential world class project. As a result, we have assembled a very capable and experienced study team to deliver a high class BFS that is defensible with quality product delivered from a pilot plant to help real end customers qualify our HPA product. This is a key de-risking element to FYI’s investment",{"text":679,"type":579},"proposition.",{"type":574,"attrs":681,"content":682},{"textAlign":49},[683],{"text":684,"type":579},"From the completion of the BFS in September, we have set a detailed schedule focusing on the delivery of the project including project financing, which we have progressed significantly already, followed by the implementation of the detailed project construction commencing by March next year. It will be a busy yet exciting and rewarding next 12 months.",{"type":574,"attrs":686,"content":687},{"textAlign":49},[688],{"text":689,"type":579},"Benchmark: What are FYI Resources long-term goals?",{"type":574,"attrs":691,"content":692},{"textAlign":49},[693,694],{"text":628,"type":579},{"text":695,"type":579},"FYI has a goal to position ourselves as a material producer of branded and sought-after high quality HPA produced from our 100% owned and fully integrated production and refining operations. We aim to achieve this by firstly establishing world class operations and becoming a material supplier of HPA. Secondly, producing high quality, sought after product reliably and efficiently, and to deliver on our stated strategy.",{"type":574,"attrs":697,"content":698},{"textAlign":49},[699],{"text":700,"type":579},"Benchmark: HPA production has typically been associated with high costs of production. What are the reasons for this?",{"type":574,"attrs":702,"content":703},{"textAlign":49},[704,705],{"text":628,"type":579},{"text":706,"type":579},"Historically, alumina’s predominate feedstock source has been from bauxite. The process and refining route from bauxite is complex and costly as it requires a number of different process phases of mining, beneficiation, refining, smelting and then hydrolysing of the resulting aluminium metal back to alumina crystal.",{"type":574,"attrs":708,"content":709},{"textAlign":49},[710],{"text":711,"type":579},"This prolonged production is very capital intensive and in an operational sense very high cost per tonne. There are also additional issues with the traditional process route as well which include the environmental impact of bauxite mining and the huge energy demand and large greenhouse gas output from the smelting phase.",{"type":574,"attrs":713,"content":714},{"textAlign":49},[715],{"text":716,"type":579},"A further cost consideration is that traditional alumina is notorious for its excessive wear factor. This is particularly evident in the refining process and its effect on wear and tear and high maintenance on equipment which is expensive in terms of replacing equipment continuously.",{"type":574,"attrs":718,"content":719},{"textAlign":49},[720,722],{"text":721,"type":579},"FYI has refined a flowsheet and production model that is based on a non-traditional feedstock, being aluminous rich clay or",{"text":723,"type":579},"kaolin. The key reason for this is to provide an alternative HPA production source that is very competitive against the traditional bauxite supply, both in terms of capital and operating costs. FYI’s production model is essentially only two phases of operation, which in essence reduces the capital required, depending on scale of output, by 80% and operating costs by 60%.",{"type":574,"attrs":725,"content":726},{"textAlign":49},[727],{"text":728,"type":579},"Other advantages in this technology route include constant steady state production and tremendous processing efficiencies with recovery rates greater than 95%.",{"type":574,"attrs":730,"content":731},{"textAlign":49},[732],{"type":604,"attrs":733},{"id":49,"alt":606,"src":734,"title":49,"source":49,"copyright":49,"meta_data":735},"https://a.storyblok.com/f/287943243085208/6e25d08105/bm-pq-drilling-cadoux-april-2019-87.jpg",{},{"type":574,"attrs":737,"content":738},{"textAlign":49},[739],{"text":740,"type":579},"FYI Resources Cadoux project, Western Australia. Credit:FYI Resources.",{"type":574,"attrs":742,"content":743},{"textAlign":49},[744],{"text":745,"type":579},"Benchmark: Can you talk us through FYI’s HPA processing flowsheet?",{"type":574,"attrs":747,"content":748},{"textAlign":49},[749,750],{"text":628,"type":579},{"text":751,"type":579},"The basis of our process is an in-house revision and refinement from a 1940s R&D development program. The flowsheet is essentially a hydrochloric acid (HCl) leaching and precipitation process – quite commonly used in other commodities; we have just refined it to produce an ultra-high quality and purity product to meet new age specifications that are emerging as growth markets.",{"type":574,"attrs":753,"content":754},{"textAlign":49},[755],{"text":756,"type":579},"We have adapted a flowsheet to suit our particular feedstock (Cadoux kaolin) which has particular geological and chemistry characteristics that make it very amenable to our developed refining process, as evidenced by the recoveries we are experiencing, around 97%, and in achieving the remarkable 99.999% purity on a regular basis.",{"type":574,"attrs":758,"content":759},{"textAlign":49},[760],{"text":761,"type":579},"Benchmark: We understand you’re targeting 99.99% (4N) HPA. After your PFS results would you consider producing 99.999% (5N) HPA?",{"type":574,"attrs":763,"content":764},{"textAlign":49},[765,766],{"text":628,"type":579},{"text":767,"type":579},"The 4N market will be our primary focus as it constitutes the largest segment within the HPA industry.",{"type":574,"attrs":769,"content":770},{"textAlign":49},[771],{"text":772,"type":579},"5N HPA is estimated to be growing at a compound annual growth rate of 22%, but this is from a small base of approximately 3,000 to 5,000 tonnes per annum. As it stands the 5N market is niche, but is increasingly becoming an important target market.",{"type":574,"attrs":774,"content":775},{"textAlign":49},[776],{"text":777,"type":579},"We will do our research, however, it is likely that we will direct a portion of our production to the lucrative 5N market. We will be able to service the demand without additional capital, changing our flowsheet, or impacting on our underlying forecast production.",{"type":574,"attrs":779,"content":780},{"textAlign":49},[781],{"text":782,"type":579},"Benchmark: Are there any particular areas of the HPA market you’ll be targeting? (i.e LED applications over battery separators)",{"type":574,"attrs":784,"content":785},{"textAlign":49},[786,787],{"text":628,"type":579},{"text":788,"type":579},"Yes, certainly. Apart from the separator market, the traditional markets for HPA are quite broad. We will look to servicing and supplying various HPA products to a range of customers that are engaged in different applications whom will require different specifications.",{"type":574,"attrs":790,"content":791},{"textAlign":49},[792],{"text":793,"type":579},"The variety of different markets requiring a slightly different end product include sapphire glass, electronics, aeronautics, space, specialty ceramics etc.",{"type":574,"attrs":795,"content":796},{"textAlign":49},[797],{"text":798,"type":579},"Benchmark: Are you looking into off-take agreements? If so, could you provide details of your approach to this and the type of partners your looking at?",{"type":574,"attrs":800,"content":801},{"textAlign":49},[802,803],{"text":628,"type":579},{"text":804,"type":579},"HPA is a specialty market and is traded predominantly on contract. Having off-take agreements is key to de-risking our project and financing. Whilst there is approximately a 17% year-on-year growth forecast for HPA, with new markets and products emerging rapidly it is important to be aligned with offtake partners.",{"type":574,"attrs":806,"content":807},{"textAlign":49},[808],{"text":809,"type":579},"We are engaged with several customers and traders and are developing commercial arrangements, which we will continue to progress as we finalise our BFS.","In the last issue of the Benchmark Quarterly Review we covered the increasing use of high purity alumina (HPA) – characterised by purity levels such as 99.99% (4N) and 99.999% (5N) – in LEDs and its latest role as a separator material in lithium ion batteries. Here we speak to Roland Hill, Managing Director of […]",[812],{"slug":562,"name":563,"content":813},{"job_title":565,"image":814,"bio":568,"linkedin":569},{"filename":567},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"3a836515-d51f-48b3-beff-ce4d3e3731a0\", \"id\": \"\"}-->","article",[818,821],{"slug":819,"name":820},"batteries","Batteries",{"slug":822,"name":823},"critical-minerals","Critical Minerals","private",{"id":49,"alt":606,"name":606,"focus":606,"title":606,"source":606,"filename":826,"copyright":606,"fieldtype":827,"meta_data":828,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/988a89c23b/bm-99999-hpa.jpg","asset",{"alt":606,"title":606,"source":606,"copyright":606},"May 12, 2019","12th May 2019",[],[],1792688597350]