Alcoa announced that its subsidiary Alcoa of Australia has terminated a joint development project with FYI Resources for high-purity alumina. Alcoa announced in 2021 that AoA had executed a binding term sheet with Western Australia-based FYI Resources for development activities to produce HPA, which is used to manufacture materials such as synthetic sapphires used in LED lighting and other various applications.The project had three phases, and AoA contributed approximately USD 5 million for stage one development activities. With the termination of the joint development project, the final two stages will not progress.Alcoa retains joint access to intellectual property, data and other certain assets related to the project.
Alcoa announced that its subsidiary Alcoa of Australia has terminated a joint development project with FYI Resources for high-purity alumina. Alcoa announced in 2021 that AoA had executed a binding term sheet with Western Australia-based FYI Resources for development activities to produce HPA, which is used to manufacture materials such as synthetic sapphires used in LED lighting and other various applications.The project had three phases, and AoA contributed approximately USD 5 million for stage one development activities. With the termination of the joint development project, the final two stages will not progress.Alcoa retains joint access to intellectual property, data and other certain assets related to the project.
