DGAP-News

FYI Resources: HPA Awarded Critical Mineral Status

DGAP-News: FYI Resources / Key word(s): Miscellaneous FYI Resources: HPA Awarded Critical Mineral Status 17.03.2022 / 14:30 The issuer is solely responsible for the content of this announcement. HPA Awarded Critical Mineral Status

Key points

• FYI and joint development partner Alcoa Australia have the objective of being a major producer of premium quality HPA
• The Australian Federal Government adds HPA to National list of critical minerals

FYI Resources Ltd ("FYI" or "the Company") (ASX: FYI; OTCQX: FYIRF; FSE: SDL) is pleased announce that the Australian Federal Government has included high purity alumina (HPA) to the priority list of critical minerals.

Critical minerals are metals and non-metals that are considered vital for the economic well-being of the world's major and emerging economies, yet whose supply may be at risk due to reasons of geological scarcity, geopolitical issues, trade policy or other factors.

Critical minerals are necessary for the manufacture of high technology devices, national defense applications, and low-carbon, green growth-related applications.

HPA has unique chemistry and physical characteristics. HPA is a sought after material for use as a base in the manufacture of Phosphors, sapphire glass and substrates for applications such as light-emitting diodes (LEDs) and also as a ceramic coating of the separator membrane in high energy density batteries such as those used in Lithium-ion cells in electric vehicles (EV).

In adding HPA to the critical minerals list, Prime Minister Scott Morrison said Australia's resources companies were leading the world in developing new critical minerals markets. Mr Morrison added "The world is becoming a more uncertain place and we want to secure Australia as a reliable partner for local and global businesses that need the critical minerals we have right here in Australia."

While global demand for critical minerals is increasing, global supply is uncertain due to the market, technical and commercial risks of critical minerals projects. The need for robust supply chains has been highlighted by the COVID-19 pandemic. Countries are increasingly seeking access to reliable, secure and resilient supplies of the critical minerals they need. Australia's large critical minerals reserves, technical expertise and track record as a reliable and responsible supplier mean the sector can respond to market demand.