Alpha HPA

HPA First Project

NAIF's loan to the Alpha HPA First Project will lead to the production of over 10,000 tons of high purity alumina (HPA) and a range of related high purity aluminium products.

Investment Decision

January 2024




Gladstone, Queensland

Alpha personnel viewing equipment


NAIF Loan Amount up to


Length of Loan up to

11 years


$437m over 20 years

Forecast Jobs during construction


Forecast Jobs during operation


Project Status

Investment Decision

The HPA First Project involves the development of a full-scale commercial plant and associated site infrastructure capable of producing over 10,000 tonnes per annum (tpa) of high purity alumina (HPA) and related high purity aluminium products

About Alpha HPA

Alpha HPA Limited is a publicly listed, Australian-based company which has commercialised a proprietary technology to produce a growing range of HPA and related high purity aluminium products.

Project overview

Based in the Gladstone State Development Area (GSDA) ,the 10-hectare, state-of-the-art facility will leverage the latest in process control systems and automation, capable of producing over 10,000 tpa HPA equivalent per year. The site intends to run on 100 per cent renewable energy.

Demand for HPA products has grown rapidly from a low base, and this trajectory is forecast to continue, prompted by use in high technology manufacturing sectors including LED lighting, lithium-ion batteries and in semiconductors. It is an ideal material for use in electronic screens, optical lenses, and protective coverings. These sectors and applications are all rapidly increasing in importance due to their role in the clean energy transition and decarbonisation of the global economy. 

The project has a key strategic advantage due to its proprietary processes and location:

  • The HPA First project uses a proprietary technology in its process, which will see it be a low-cost and low-carbon producer of HPA compared to the incumbent HPA production processes currently in use globally; and 
  • The HPA First Project benefits from its integration and co-location in Gladstone with key partner/supplier Orica & feedstock provider Rio Tinto.

The Alpha HPA First project in is expected to create around 490 jobs during construction and more than 200 jobs (direct and indirect) on completion.

How we helped

Commercial lending appetite is low for many Critical Minerals, and for HPA there is almost no commercial appetite. Commercial lenders have very limited experience with the HPA sector given the emerging and niche nature of the market.  Without NAIF and other Government agency involvement to fill this funding gap, the project was unlikely to proceed. 

The project is a good strategic fit for NAIF as it provides an opportunity to deliver key Government Policy Priorities such as realising the Critical Mineral Strategy, contributing to Australia’s clean energy transition and creating opportunities and economic growth in Australia’s regional communities.  In addition to alignment with the Critical Mineral Strategy, from a jurisdictional perspective, there is also strong alignment with the Queensland Government’s policy to support regional economic development.

Related links


3% (first year of operation)

Indigenous Engagement

Traditional owners of this land

  • Bailai

The Project is situated on the lands of the Bailai people.

IES Commitments

Development of the Indigenous Engagement Strategy (IES) was informed by feedback from key Indigenous stakeholders, Port Curtis Coral Coast Trust (PCCC) and Gidarjil Development Corporation.

Alpha HPA's IES includes commitments, such as:

  • Facilitating opportunities for economic participation with PCCC and other stakeholder groups as appropriate. 
  • Partnering with Gidarjil Development Corporation through various initiatives including to support a local Indigenous leadership program, as well as sponsorship of key community-run events and festivals. 
  • Focusing on Indigenous employment pathways through STEM, training, and scholarships into technical and non-technical roles through the Project. 
  • Indigenous employment target of 3% in their first year of operations and increasing to 6% by their third year of operations.