Australia's Alpha HPA rises on grant confirmation for lithium battery project

Alpha HPA

21/09/2022 07:22

** Shares of Alpha HPA Ltd  A4N.AX  rise as much as 7% to
A$0.46, set to mark best day since Sept. 1, if gains hold
    ** Aluminium miner says A$60 mln ($40 mln) of grants from
the Australian government confirmed for co's first LED lighting
and lithium battery supply chain project  urn:newsml:reuters.com:*:nASXP0DTf
    **The government on Sept. 16 had approved A$50 million ($34
million) of grants towards six critical minerals projects to
reach net zero emission targets by 2050  urn:newsml:reuters.com:*:nL4N30N03Y
    ** Co says it received confirmation for A$15.5 mln critical
minerals grant to fund expansion of stage-1-PPF high purity
alumina capacity 
    ** Adds its A$45 mln modern manufacturing initiative grant
is advancing for negotiation and will be available once co
reaches final investment decision on stage 2 of the project  
    ** Stock down 28.3% this year, as of last close


($1 = 1.4990 Australian dollars)

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))