Alpha HPA finalises $400 million deal to build Australia’s first large-scale HPA production facility

The Australian-based company specialising in producing ultra-high purity alumina (HPA), Alpha HPA, has achieved a significant milestone by securing $400 million in debt financing to advance its High Purity Alumina (HPA) First Project in Gladstone, Queensland.

The funding, supported by Export Finance Australia (EFA) and the Northern Australia Infrastructure Facility (NAIF), paves the way for Alpha HPA to develop Australia’s first large-scale high-purity alumina processing facility.

The financing package includes a $320 million construction loan and an $80 million contingency fund for potential cost overruns. The company announced that both facilities have competitive interest rates and an 11-year repayment term starting from the financial close.

Alpha HPA's Managing Director, Rimas Kairaitis, celebrates this milestone as a significant achievement for the company.

Kairaitis said, “The Australian Government’s support underscores confidence in our innovative technology, sustainable production processes, and our role in the global critical minerals supply chain.”

“This milestone consolidates the Australian Government’s 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.” 

EFA's Managing Director and CEO, John Hopkins, announced that the Contractual Close of Alpha HPA's Stage Two HPA First Project marks a significant milestone achieved today.

“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,” Hopkins said.