Impact Minerals Limited has released a scoping study for Alluminous Pty Ltd, its 50%-owned associated company, outlining a preferred commercial pathway for high-purity alumina production anchored in the United States.

The study evaluates four development scenarios for the proprietary Alluminous technology, which uses purchased alumina-based chemical feedstocks rather than natural mineral material. Independent process engineer NewPro Consulting & Engineering Services modelled the preferred option, designated Case 4, around a staged facility on the US Gulf Coast in Texas.

The strategy starts with 2,000 tonnes of annual capacity before expanding to 4,000 tonnes as technical performance, customer qualification, offtake agreements and financing allow. Case 4 models a post-tax net present value at an 8% discount rate of US$362.4 million, equivalent to about A$518 million on a 100% project basis, alongside a post-tax internal rate of return of 42.3% and a capital payback period of 3.8 years. Total installed capital for the US-based staged option is modelled at US$74 million.

The study indicates that establishing the facility in the US offers advantages compared to Perth, Western Australia, requiring about 26% less upfront capital and delivering roughly 18% lower operating costs. Under Case 4, the project will install a second dryer and tunnel kiln during its third operating year to reach nameplate capacity.

Impact acquired its 50% interest in Alluminous for A$1.1 million on April 26, 2025, and has since invested A$1.75 million toward ongoing development and commissioning of the pilot plant in Perth.

“This Scoping Study presents a preferred staged development case that now models a post-tax NPV₈ of US$362.4 million, equivalent to about A$518 million on a 100% project basis. While the study is early-stage and highlights the significant technical work and development funding still required, the result strongly validates the long-term value we recognised and the quality of the initial acquisition.” — Dr Mike Jones, Managing Director

The company maintains a parallel focus in Western Australia, holding the Lake Hope high-purity alumina project as a complementary pathway. Subject to approvals, Alluminous plans to expand the Perth pilot plant into a demonstration hub with a capacity of up to 200 tonnes per annum to handle process optimisation and customer sample qualification.

Read the full announcement: Positive Alluminous Scoping Study Support US HPA Developmen