Altech Chemicals Limited (ASX:ATC) CFO Shane Volk discusses progress towards construction of the company's High Purity Alumina (HPA) plant in Malaysia.Altech Chemicals
(ASX:ATC) Chief Financial Officer Shane Volk gives an update at the FNN Investor Event in 1 November 2017 in Sydney, including:
- Update on Altech's high purity alumina (HPA) production, which is at 4,500 tonnes per annum
- Producing 99.99% (4N) HPA which retrieves the premium price, produced from sapphire and ruby, a natural form of HPA
- Its product is used for lithium-ion batteries, battery separators, synthetic sapphire products, LED lighting, smartphone screens
- Global demand has grown and is expected to increase, growing at a rate of 17%, driven by LED growth and lithium-ion batteries
- Entering a fast growing market, with global LED light demand forecast to increase to 4.1 billion by 2024
- 70% of HPA demand in Asia-Pacific, the world's manufacturing hub, making its Malaysian HPA plant location is well positioned
- Kaolin feedstock is shipped from WA to Asia
- Off-take agreement with Mitsubishi for a strategic opportunity with lithium-ion batteries
- Update on contract with SMS group
