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    Home > Coatings News > Paints and Coatings Market > Altech guarantees to invest in bulk kaolin research partners

    Altech guarantees to invest in bulk kaolin research partners

    • Last Update: 2021-08-29
    • Source: Internet
    • Author: User
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       Global Coatings Network News: 

       Global Coatings Network News:

       Altech Chemical Co.
    , Ltd.
    , formerly known as Australian Minerals and Mining Group (AMMG), announced that it has signed a scoping study with Dana Transportation and Trading (Dana) on the commercial feasibility of mining and processing bulk kaolin deposits from Meckering’s kaolin (aluminum clay) deposit A memorandum of understanding.
    Bulk kaolin is mainly used in ceramics, papermaking, rubber and coating industries.
    The cost of the study is estimated to be approximately AUD 100,000.


    -Altech guarantees partners to invest 100,000 Australian dollars worth of bulk kaolin scoping study

    -The first option provided by the memorandum, 10 million tons of kaolin will receive a 1 million Australian dollars allotment and 2% of the total sales commission

    -The second option is the subsequent 10 million tons of kaolin, which will receive another 1 million Australian dollars allotment and 2% of the total sales commission

    In return for the research, Altech granted Data the exclusive right to mine 10 million tons of kaolin from the company's Meckering deposit (the first choice) from September 30, 2015.
    Exercising the option, Dana was required to subscribe for Altech's A$1 million fully paid common stock at a 10% weighted premium to the average price of ASX shares 120 calendar days prior to the option exercise date, and to pay the company's future bulk sales of kaolin 2% of the total sales commission.

    If Dana exercises its first option, Altech will grant Dana the second option to mine additional 10 million tons of kaolin from the Meckering deposit.
    The second option can be exercised within three months after the first sale of the commercial bulk kaolin from Meckering Deposit, and if the second option is exercised, Global Paint Network understands that Dana must subscribe for another A$1 million in Altech’s fully paid-up shares , The selling price is a 10% weighted premium of the average price of ASX stocks 120 calendar days before the option exercise date, and 2% of the company’s future bulk sales of kaolin will be paid.

    Dana is a global shipping company headquartered in Athens.
    Its main business is dry bulk transportation, cooperating with diversified dry bulk commodities, such as coal, iron ore, grains and small-scale dry bulk ships.

    Patrick Hoskin, CEO of Dana commented: "Dana is honored to finalize this agreement with Altech after hard work.
    We think our investigation will confirm the huge scale of the project consistent with the export of high-grade kaolin market and the long-term supply of shipping services.

    Commenting on the memorandum, Mr.
    Tan Yiji, Altech’s managing director, explained: "The company is still focusing on its high-purity alumina (HPA) project and completing its bank feasibility analysis for its 4,000-ton HPA project in Johor Bahru, Malaysia.
    However, we have always been aware that the kaolin of the company’s Meckering deposit is attractive to ceramic and paper manufacturers due to its high brightness and whiteness characteristics, and based on 65 million tons of JORC resources, the capacity of Meckering deposits The HPA project planned by the company that can accommodate the annual demand of 40,000 tons of kaolin, and the total demand for bulk kaolin of 10 million to 20 million tons after Dana exercises his option.

    "The structure of the Dana Option Agreement has the additional advantage of providing development funds for the company at a premium per share.
    If the option is exercised, it will be used in the current BFS", he concluded.

    About Meckering Deposit

    The company’s wholly-owned Meckering deposit covers an area of ​​about 1,000 square kilometers, and has an estimated and inferred mineral resource of 65 million tons of kaolin, with a brightness of 83.
    4% (JORC2004) (JORC resources).

    Historical exploration and development of the Meckering deposit by Swan River Kaolin (SRK) in the 1990s included open-pit mining to obtain bulk samples of kaolin for testing.
    A total of 48 tons of material were mined from the test well and beneficiated at SRK's pilot plant in Northam, Western Australia.
    Successfully produced about 19 tons of bulk kaolin that meets the quality requirements of commercial papermaking and ceramics.
    The samples were sent to potential customers and end users.

    Content about Altech Chemicals Ltd

    Altech aims to become one of the world's top suppliers of 99.
    99% (4N) high purity alumina (HPA) (Al2O3).
    HPA is a high-value product because it is the main raw material for scratch-resistant synthetic sapphire glass.
    Sapphire glass is used to produce a series of high-performance electronic applications, such as LEDs, semiconductors, fluorescent displays, and emerging products such as smartphones and tablet devices.
    The global HPA market demand is approximately 19,040 tons per year (2014) and is expected to at least double in the next ten years.

    Currently HPA manufacturers use expensive and highly processed raw materials, such as aluminum metal, to produce HPA.
    Altech directly uses the company's alumino-clay raw materials at the Meckering deposit in Western Australia to produce 4N high purity alumina.
    The company is currently advancing the Bank Financing Feasibility Analysis (BFS) to develop a full-scale HPA production plant with an annual output of 4,000 tons.
    The Altech process uses conventional and mature "no customization" facilities and technologies to extract HPA from its low-cost, low-impurity aluminous clay raw materials, thereby reducing operating costs.

    Altech is a chemical processing company dedicated to creating high-margin products to meet the growing global demand for next-generation high-performance technology.
    (Source: Global Coatings Network) (For more information, please log in: Global Coatings Network
    http:// )

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