Alcoa of Australia ends joint development project with FYI Resources

PITTSBURGH--(BUSINESS WIRE)--Alcoa (NYSE: AA) announced today that its subsidiary Alcoa of Australia Limited (AoA) has terminated a joint development project with FYI Resources Ltd (ASX: FYI) for high-purity alumina (HPA). Alcoa announced in 2021 that AoA had executed a binding term sheet with Western Australia-based FYI Resources for development activities to produce HPA, which is used to manufacture materials such as synthetic sapphires used in LED lighting and other various applications. “While our work with FYI has demonstrated the merit of the process to produce high purity alumina, Alcoa has decided not to pursue a development pathway with FYI at this time,” said Renato Bacchi, Executive Vice President and Chief Strategy &