FYI Resources has appointed Control and Thermal Engineering to conduct work on a proposed high-purity alumina plant in Kwinana, after major partner Alcoa withdrew from the project.
Shares in FYI Resources have fallen sharply for the second day running after the Perth company announced details of a $US250 million joint venture with Alcoa of Australia.
A $450 million potash development in northern WA and a $269 million alumina refinery planned for Kwinana have received major project status from the federal government.
Plans for a high purity alumina refinery in Kwinana received a small boost today, with Alcoa to investigate developing the project with proponent FYI Resources.
FYI Resources has edged closer to production at its high purity alumina project in Western Australia after completing a definitive feasibility study and securing equity financing with a European investment group.
GR Engineering Services has been appointed to lead a bankable feasibility study for FYI Resources, while Adaman Resources will complete a mining study for Neometals' Barrambie vanadium project.
Having recently detailed a $US178 million ($248 million) capital cost for its Cadoux Kaolin alumina project, FYI Resources has now commenced a bankable feasibility study for the proposal.
Three Perth-based junior miners have tapped investors for more than $10 million, while gold explorer Crusader Resources will raise up to $US15 million ($19 million) as the company seeks a dual listing on London's AIM.
