Altech Chemicals Ltd’s (ASX:ATC) (FRA:A3Y) wholly-owned subsidiary Altech Meckering Pty Ltd has completed a land purchase central to development of the company's high purity alumina (HPA) project.
The group purchased about 92 hectares of freehold land covering its granted mining lease M70/1334, at Meckering in Western Australia.
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Altech managing director Iggy Tan said: “Finalising the purchase of the freehold land covering granted mining lease M70/1334 marks the completion of another important milestone in the advancement of our HPA project."
Purchase provides unimpeded access to Meckering site
Altech previously announced that it had exercised its option to purchase the freehold land on October 17, 2017.
Settlement was subject to subdivision of the registered land title and issuing of certificates of title for the new lots created.
These formalities and the final payment of the purchase price have been completed.
Kaolin ore from Meckering to provide feedstock
Kaolin ore from the Meckering mining lease will provide feedstock for Altech's proposed Malaysian high purity alumina (HPA) plant (below).
The Meckering kaolin mine is fully permitted with construction of the kaolin screening and loading facility able to proceed upon completion of the balance of project financing.