It has been two years since we interviewed Mr. Roland Hill, the Manager Director of FYI Resources Ltd. (ASX: FYI; OTCQX: FYIRF, FSE: SDL). FYI recently achieved quite a few exciting milestones. It optimized the commercialization phase of its flagship high-purity alumina (HPA) project development. Moreover, FYI has entered the Rare Earth sector through a strategic acquisition.
During this episode of “METALS 100”, Roland elaborated on the above development progress and the significance of the acquisition. More importantly, he talked about how FYI works with the government and builds strategic partnerships.
About FYI Resources Ltd. (ASX: FYI; OTCQX: FYIRF, FSE: SDL)
FYI has a critical minerals project development focus and is positioning itself to be a significant producer of high purity alumina (HPA) and is entering downstream rare earths production via the acquisition of Minhub Operations Pty Ltd. FYI has developed an innovative process design for the integrated production of high quality, high purity alumina (HPA) predominantly for electric vehicles (lithium-ion batteries), sapphire glass (LED) and other broader tech applications. FYI applies both an ESG and economic overlay of the Company and its operations to ensure long-term sustainability and shareholder value is created via the development of the Company’s innovative, high-quality, ultra-pure HPA project.
HPA is increasingly becoming the primary sought-after input material for certain high-tech products, principally for its unique characteristics and chemical properties which are required for high-specification products such as LED’s and other sapphire glass products.
The longer-term driver for HPA, with forecasts of more than 17% year on year growth (GAGR), is the outlook for the burgeoning electric vehicle and static energy storage markets. HPA’s primary function is in its use as a separator material between the anode and cathode in batteries to increase the power, functionality and safety of battery cells. As the market grows, so will the global demand for this material.
Rare earths are used in the components of many applications and devices used daily in our modern society, such as: the screens of smart phones, computers, and flat panel televisions; the motors of computer drives; batteries of hybrid and electric cars; and new generation light bulbs. The rare earths market is forecast to grow from $7.0b in revenue in 2021, and it is expected to reach $15,4b by 2030.
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