News and Announcements
Altech Chemicals Passes Due Diligence
- Published February 06, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Altech Chemicals Limited has recently announced an update on the due diligence activities associate with the financing of its proposed high purity alumina (HPA) project. The various independent reviews and associated confirmatory pilot plant test work are now well advanced and nearing completion.
KEY TAKEAWAYS:
- Debt due diligence at an advanced stage.
- Confirmatory pilot plant test work in South Africa, Australia and Germany.
- HPA market study completed.
- Technical due diligence at an advanced stage.
- Permitting in Malaysia and Australia progressed.
“On 10 August 2016 the appointment of due diligence consultants by Altech and KfW IPEX-Bank was announced. The consultants are engaged to undertake definitive technical, market and legal reviews of the Company’s HPA project, with an independent “expert opinion” report presented at the conclusion of the reviews for the benefit of the ECA.”
“The due diligence consultants completed site visits to Meckering, Fremantle and Perth, Western Australia and to Johor, Malaysia in early August 2016 and their respective initial reviews did not identify any major flaws in the HPA project. However various pilot plant confirmatory test work programs were requested and detailed audits initiated accordingly. The test work programs and audits are now well advanced.”
“Commenting on the due diligence activities, Altech managing director Iggy Tan said, “The last five months have been extremely busy for the Company as we worked with the various due diligence consultants to complete confirmatory pilot plant test work and respond to a large number of detailed information requests.”
Altech Chemicals Limited is aiming to become one of the world’s leading suppliers of 99.99% high purity alumina.
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