VRX Silica (ASX: VRX) announced confirmation from the Western Australian State Government that the Company’s grant application for $2 million in matched funding under the Investment Attraction Fund (IAF) has been approved with a Financial Assistance Agreement (FAA) for the grant executed today.
HIGHLIGHTS
- Investment Attraction Fund application approved for funding grant by State Government
- Funding for testwork and construction of pilot plant for High Purity Quartz (HPQ) flour project
- HPQ products achieve prices up to US$9,500/tonne
A media statement from the State Government announcing the grant is available to view on the State Government’s Invest and Trade WA website.
The IAF is part of the State Government’s Diversify WA initiative, a collaboration between government, industry and the community supporting the WA Government’s focus on creating secure, quality jobs, growing and diversifying the economy and attracting new investment.
The IAF is administered by the Department of Jobs, Tourism, Science and Innovation (JTSI).
The grant under the IAF is being awarded on a matched funding, dollar for dollar basis, whereby the IAF will provide a financial contribution to VRX up to $2 million.
The project proposed by VRX will investigate the potential to develop a high purity quartz (or HPQ) flour manufacturing process and pilot plant in Western Australia, which if successful will lead to the development of a larger commercial plant for large scale processing.
VRX Managing Director Bruce Maluish said:
“This project is a consequence of the metallurgical testwork on silica sand that VRX has conducted over the last few years.
“The Company has developed a thorough understanding of the characteristics of each of its deposits and how those projects can produce silica products that are most in demand.
“This is another opportunity to supply products into a niche market and add further value to our silica sand projects.”
