viewAltech Chemicals Ltd

Altech Chemicals receives $2 million following shareholder approval

The company is focused on developing a high purity alumina (HPA) plant located in Johor, Malaysia.

Altech Chemicals Ltd - Altech Chemicals receives $2 million following shareholder approval
Plant feed will come from the company’s kaolin project in Western Australia

Altech Chemicals Ltd (ASX:ATC) has received $2 million following the deferred issue of shares to the Melewar Group as part of the $18 million placement earlier in the year.

The delay is due to the company required shareholder approval for the participation of Melewar Group in the recent capital given it is a related party to non-executive director Tunku Yaacob Khyra.

Melewar remains the second-largest holder of company shares with a holding of 9.12%, the largest holder is Deutsch Balaton AG / Dephi, with 15.8%.

World’s first pure-play HPA producer

Altech aims to become one of the world’s leading suppliers of 99.99% (4N) HPA, which will be produced at the proposed HPA plant in Malaysia.

The company aims to feed its HPA plant using its kaolin mine in Western Australia.

Using a spot price of US$40,000 per tonne and annual plant production of 4,500 tonnes, Altech will generate annual revenue of $180 million.

Stage-1 construction complete

In late October 2019, Altech completed stage-1 construction work at its HPA plant site in Johor, Malaysia, on time and budget.

During the stage-1 construction, a total of 207 employees and contractors completed site safety inductions with the maximum site workforce reaching a compliment of 82.

Construction of the substation structure is expected to begin during November 2019 once various off-site fabrication works are complete.

Quick facts: Altech Chemicals Ltd

Price: 0.045 AUD

Market: ASX
Market Cap: $39.36 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Altech Chemicals Ltd named herein, including the promotion by the Company of Altech Chemicals Ltd in any Content on the Site, the Company...



Altech Chemicals moves to secure site for second high purity alumina plant...

Altech Chemicals Limited's (ASX:ATC) (FRA:A3Y) Iggy Tan speaks to Proactive's Andrew Scott after announcing a purchase agreement option for a 10-hectare industrial site in the Saxony region of Germany as the company considers constructing a second high purity alumina (HPA) plant. The company...

2 weeks, 1 day ago

2 min read