FYI Resources and Alcoa continue HPA JV agreement
Perth materials technology group FYI Resources and Alcoa Australia have agreed to extend their three-month joint venture agreement to allow them to conclude a binding terms sheet jointly to develop a high purity alumina (HPA) processing plant. FYI plans a kaolin mine and processing at Cadoux, WA and an HPA production plant at Kwinana south of Perth. High purity alumina is a high-value product used in the production of synthetic sapphire for manufacturing semiconductors. With due diligence completed, both companies have been assessing ‘the broader development and future growth options for the project’, according to an announcement. They are also conducting de-risking options for the project.
Proteomics to develop endometriosis test
Perth biotechnology group Proteomics International Laboratories, the University of Melbourne and the Royal Women’s Hospital are to develop a simple blood test for endometriosis. A tissue bank of more than 900 women will be used to validate the company’s biomarkers for endometriosis, a chronic condition in women that results in pelvic pain and irregular menstrual cycle. The condition affects one in nine women. The collaboration will also develop new biomarkers following the university’s receipt of a $3.9 million grant from the Medical Research Future Fund’s emerging priorities grant for endometriosis. A non-invasive test could save women from years of suffering.
Magnis Energy Technologies gains battery sales contracts
Magnis Energy Technologies has gained new contacts worth US$74 million over four years for the lithium ion batteries it plans to build at a new factory under construction in New York. The company, which is also proposing a massive new factory in Townsville, now has sales agreement worth close to US729 million (A$1 billion) for the New York facility. “There are ongoing discussions and qualification processes continuing with several other potential customers.” The plant is now 17.85 per cent complete, with the building interior expected to be cleared-out by mid-August. Machinery can then be moved into their permanent locations.
Picture: Proteomics International Laboratories
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