Alpha HPA has reached a major milestone with the contractual close of $400 million in debt funding to advance its High Purity Alumina (HPA) First Project in Gladstone, Queensland.
The financing, backed by Export Finance Australia (EFA) and the Northern Australia Infrastructure Facility (NAIF), positions Alpha HPA to deliver Australia’s first large-scale high-purity alumina processing facility, Alpha said in a news release.
The agreement includes a $320 million construction facility and an $80 million cost overrun facility, both offered at competitive interest rates with an 11-year tenor from financial close.
According to Alpha, the funding represents an important advancement for the project’s second stage, which will establish a prominent facility for producing high-purity aluminium materials vital for clean energy and advanced manufacturing technologies.
Alpha HPA’s Managing Director, Rimas Kairaitis, said the government’s financial backing reflects confidence in the company’s innovative and sustainable approach.
“This milestone consolidates the funding commitment and builds further on our confidence in establishing the world’s largest, single-site high purity aluminium materials facility manufacturing the high-tech materials essential for the global energy transition,” he said.
EFA Managing Director and CEO, John Hopkins, also praised the project, calling it a key development for Australia’s critical minerals sector.
“We’re proud to support the delivery of Australia’s first high-purity alumina processing facility in Gladstone, Queensland, reinforcing our commitment to the sector,” Mr. Hopkins said.
Alpha HPA’s proprietary low-carbon processing technology significantly reduces emissions by up to 70 per cent compared to traditional methods and operates with near-zero waste by recycling nearly all its reagents.
The facility will also rely entirely on renewable energy, further enhancing its environmental credentials.
The Gladstone plant aims to produce materials essential for industries including semiconductors, lithium-ion batteries, LED lighting, synthetic sapphire, and Direct Lithium Extraction (DLE) technology.
The project aligns with Australia’s critical minerals strategy and underscores the nation’s role in supporting global clean energy goals through sustainable manufacturing innovations.
