Hafnium Cleaner power and transport Faster, more energy ...Hafnium Applications - thermoelectric....

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HafniumF

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What is hafnium?

• A shiny, silvery metal that resists corrosion and can be drawn into wires.

• Discovered in 1923 by George Charles de Hevesy and Dirk Coster

• The name is derived from the Latin name for Copenhagen, 'Hafnia' Source: http://www.rsc.org/periodic-table/element/72/hafnium

• In its natural state it is always bound up with zirconium compounds, from which it needs to be extracted using advanced metallurgical processing.

© 2017 Alkane Resources Ltd

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Properties of hafnium

• High thermal neutron absorption cross section (~600 times zirconia)• High stability & strength at high temperatures in metallic & compound form• High dielectric constant • Thermoelectric material• High-index/low optical absorption properties• The main source of hafnium is as a by-product from producing nuclear grade

hafnium free zirconium metal

Melting point: 2233°C, 4051°F, 2506 KBoiling Point: 46000CDensity (g cm−3) : 13.3Key isotopes: 177Hf, 178Hf, 180HfElectron configuration: [Xe] 4f145d26s2


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Hafnium traded as

Source: http://www.periodictable.com/Items/072.5/index.html

Hafnium metal in ‘crystal form’

Hafnium oxide (HfO2)

Source: http://onyxmet.com/?route=product/product&product_id=795

Hafnium tetrachloride

(HfCl4)

Source: Alkane Dubbo Project


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• Global market US$2-3B• 2017 producer zircon inventories low• Demand increasing/supply constrained • CAGR anticipated at 3-5% pa for zirconium chemicals

Other3% Foundry

12%

Chemicals21%

Refractory17%

Ceramics47%

Zircon Demand by End Use (2016 ~ 1.1 million tonnes)

Source: TCMS and Industry Sources

• China dominates downstream zirconium industry (Supply 75+%)

• Zirconium metal 5-6,000 tpa• Nuclear zirconium metal 3,500 tpa

60 tpa Hafnium

1% of metal

Zirconium Industry: hafnium source

© 2017 Alkane Resources Ltd5

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Hafnium supply - linked to nuclear industry

Source: http://www.areva.com/EN/operations-913/jarrie-production-of-zirconium-sponge.html

• Most of the world’s hafnium metal has been produced as a by-product of the nuclear industry – making global supply dependent on those who carry out this process.

• Nuclear applications require high-purity (Hf-free) zirconium for neutron-transparent fuel assemblies.

Zr:Hf50:1

1,000t : 20t HfO217t Hf metal


Zr feed

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Superalloy

Plasma cutting tips

Nuclear control rod

Catalyst precursor

Semiconductors

Oxide for Optical

2t

40.2t

4.7t

7.4t

10.1t

2t

Current global demand


Major markets (global output by weight):

2016 Hafnium demandEstimated 67 tonnes

Source: Roskill ASM Internal Report (Draft)

(60%)

(15%)

(11%)

(7%)

(3%)

(3%)


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Industrial gas turbines (IGT)Market sustained growth:

• 18,800 gas turbine engines forpower generation in 2014-2028

• 1-2% Hf NiCo alloys - High strength and stability at high temperatures

• Dominated by GE, Siemens, Mitsubishi-Hitachi Power Systems and Solar Turbines

Source: Roskill ASM internal report (draft)

Hafnium Applications - Current


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Aerospace – Jet enginePassenger / military aircraftgrowth 100+% - next five years

Hafnium is used in the MAR M 247 superalloy in the hot part of jet engines (turbine blades and vanes).

1%-2% Hf in NiCo alloys increases operating temperature from 1,400oC to 2,000oC for fuel efficiencies and emission minimisation.



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Rocket engine nozzle ‘cone’Emerging application requiring significant quantities of hafnium

SpaceX Falcon9 Reusable rocketMerlin 1D engines • Niobium alloy

C103 (89-90Nb, 9-10Hf, 1Ti)• Superior fabrication and

mechanical properties up to 1482°C (2700°F)

• 400 engines per year


http://www.spacex.com/news/2013/03/26/merlin-engines


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• Thermoelectric power generation –converts heat to electricity

Cooling – refrigeration????


Plasma cutting inserts• Operate at high

temperatures• Hafnium is ideal as highest

metal melting point in periodic table and conducts electricity


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• Thermoelectric power generation –converts heat to electricity

Cooling – refrigeration????


Plastics manufacture• Hafnium catalysts used in

production of organic chemicals and pharmaceuticals.

• Largest market is thermoplastics

• More-efficient, less expensive catalysts with no waste


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449 Operating nuclear plants60 Undergoing construction170 Planned in China by 2050

• Hafnium is an excellent neutron absorber used in nuclear control rods to regulate the power in a reactor.

• Corrosion resistant in hot water



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Hafnium Applications – next gen memory

Permanent MemoryFerroelectric micro-processing using HfO2

• Ultra-fast, low-power, non-volatile successor to flash memory

• HfO2 already used in electronics and compatible with silicon fabrication techniques

• k-gate chips, films, ferroelectric tunnel junctions, optoelectronic modulators and RAM (embedded memory), piezoelectric transducers and tunnel junctions.


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Hafnium: The ideal memory material

Source: ferroelectric-memory.com

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Hafnium Applications - future

Thermoelectric power generation converts waste heat into electricity

• Using blends of hafnium and zirconium works better at temps up to 5000C compared to bismuth telluride up to 2500C and contains expensive telluride

• Application for refrigeration and cooling

• Highly reliable

• Lack of moving parts

• Ability to scale to any size

• Device energy conversion efficiency currently low


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Hafnium Applications - thermoelectricThermoelectric power generation - Automobiles

• More than 67% of fuel energy is wasted during the burning cycle as heat.

• GM, BMW, Ford, Renault and Honda have all demonstrated their interest in thermoelectric generators to run ancillary systems.

• BMW used blends of hafnium and zirconium, which increased the efficiency of their generator by 40 percent.

An artist’s rendering of a General Motor’s Chevrolet Suburban shows the muffler-like thermoelectric generator inserted into the exhaust system

Source: http://news.softpedia.com/news/Thermoelectric-Materials-Will-Improve-Fuel-Efficiency-202204.shtml


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Hafnium Applications - Future

Radiative cooling Replacement of air conditioning

• 15% of all energy use is air conditioning

• Stanford developed new ultra-thin multi-layered HfO2 & SiO2 material reflects 97% sunlight

• Coating sucks heat from sun-drenched building and radiates it into outerspacethrough earth’s atmosphere


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Hafnium Applications - Future

Prostate cancer treatment• 1 in 7 men are

diagnosed with prostate cancer

• Second leading cause of cancer death in US

• HfO2 nanoparticles in radiation oncology to destroy cancer cells is being trialled

Source: http://labiotech.eu/nanobiotix-prostate-drug-fda-approval-phase-i-ii-trials/


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Hafnium Pricing (2009 – 2017)

Time

2,250

1,000

500

2,000

1,500

1,750

1,250

750


( )

Historical hafnium pricingF

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Areva

ATI Wah Chang

Revert - Recycled

Westinghouse/SNZ

Chepetsky

China

Ukraine

Current world supply• By-product from zirconium metal purification

– Depends on nuclear industry

2t 2t<1t

<1t

20t35t

• Prices escalating through demand by aerospace industries 2014 into 2015

• 3 western companies produce – hafnium (metal) from HfO2

• ATI (US)• Westinghouse (US)• Areva (France)

• Total world supply fits in a 40 foot shipping container

2016 Hafnium supplyEstimated 70 tonnes


Source: Roskill ASM Internal report (draft)

21

10t

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Where will supply come from?


Current applications/markets to 2026: 152 tpa• Existing producers + expanded Russia/China supply – not sufficient to

meet base-case demand growth• Australian Strategic Materials (Alkane Resources Ltd subsidiary)

Dubbo Project the only supply option not tied to Zr/nuclear industry• Start-up capacity 25-50tpa• Potential to produce 200tpa


Projected Hafnium Demand tpa

Source: Roskill ASM internal report (draft)

Forecast demand increasing to 152tpa by

2026 (CAGR +5.3%)

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Dubbo Project


• 400km northwest of Sydney • 25km from Dubbo city (pop~45,000)• Dubbo infrastructure – roads, rail,

power, gas, light engineering, people• Large polymetallic resource -

zirconium, hafnium, niobium (tantalum), yttrium and rare earths

• 35 year reserve mine life at 1 million tonne/year ore processing

• Defined resource supports 80+ year open pit operation


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Dubbo Project – Current Status


• Front End Engineering Design (FEED) study confirmed robust technical & financial DFS

• Outotec Finnish technology & engineering solutions company to present a fixed price EPC

• Pilot Plant at ANSTO has demonstrated the flow sheet with products for market evaluation over 8 years

• All State & Federal environment approvals

• Sumitomo Mitsui Banking Corporation financial advisors

• Modular design option (halves CAPEX costs and output) for lower risk

DUBBO PROJECT IS CONSTRUCTION READY© 2017 Alkane Resources Ltd

Dubbo ProjectToongi

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Modular Design


Construction2017 - 2019

Estimated costUS$480M

---------------------

Construction2022 - 2023

Estimated costUS$360M

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Estimated total Cost US$840M


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Product Output


Tonnage based upon recoveries developed from mass balances of the demonstration pilot plant.

DP P

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Rare earth chemical concentrate

Zirconium as ZBC (carbonate) & zirconia

Hafnium as HfO2 concentrate

Niobium as ferro-niobium

95% REO

99% ZrO2

HfO2 conc

65% Nb

6,664 tpa(REO units)

16,374 tpa(ZrO2 units)

50 tpa *(Hf units)

1,967 tpa(Nb units)

* Start up output. 200tpa potential depending upon market demand

Total output approximately 25,200 tpa of all products


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Dubbo Project - product revenue split

Magnet metals: Praseodymium, Neodymium, Dysprosium, Terbium,

Samarium 25%

Hafnium 10%

Zirconium 42%

Niobium 17%

Other rare earths, including yttrium 5%

Diversified products – lowers risks


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*Stage 1 revenue US$200 - 220M Opex US$120 – 130M

*Stage 1 + 2 revenue US$400 - 440M Opex US$220 – 230M *estimates subject to completion of Modular Construction study

Note: ASX announcements 16 November 2011, 11 April 2013, 30 October 2013, 27 August 2015, 7 April 2016 and 28 October 2017 - the Company confirms that all material assumptions and technical parameters underpinning the estimatedMineral Resources and Ore Reserves, and production targets and the forecast financial information as disclosed continue to apply and have not materially changed.

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Heading goes here

Ian ChalmersManaging [email protected]

www.alkane.com.au

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http://www.alkane.com.au/

This presentation contains certain forward looking statements and forecasts, including possible or assumed reserves and resources, production levels and rates, costs, prices, future performance or potential growth of Alkane Resources Ltd, industry growth or other trend projections. Such statements are not a guarantee of future performance and involve unknown risks and uncertainties, as well as other factors which are beyond the control of Alkane Resources Ltd. Actual results and developments may differ materially from those expressed of implied by these forward looking statements depending on a variety of factors. Nothing in this presentation should be construed as either an offer to sell or a solicitation of an offer to buy or sell securities.

This document has been prepared in accordance with the requirements of Australian securities laws, which may differ from the requirements of United States and other country securities laws. Unless otherwise indicated, all ore reserve and mineral resource estimates included or incorporated by reference in this document have been, and will be, prepared in accordance with the JORC classification system of the Australasian Institute of Mining, and Metallurgy and Australian Institute of Geosciences.

Competent PersonUnless otherwise stated, the information in this presentation that relates to mineral exploration, mineral resources and ore reserves is based on information compiled by Mr D I Chalmers, FAusIMM, FAIG, (director of the Company) who has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Ian Chalmers consents to the inclusion in the presentation of the matters based on his information in the form and context in which it appears.

Disclaimer


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© 2016 Alkane Resources Ltd 31

Dubbo Project – Mineral Resources

Toongi Tonnage ZrO2 HfO2 Nb2O5 Ta2O5 Y2O3 REO

Deposit (Mt) (%) (%) (%) (%) (%) (%)Measured 35.70 1.96 0.04 0.46 0.03 0.14 0.75Inferred 37.50 1.96 0.04 0.46 0.03 0.14 0.75Total 73.20 1.96 0.04 0.46 0.03 0.14 0.75

Dubbo Project – Ore Reserves

These Mineral Resources are based upon information compiled by Mr Terry Ransted MAusIMM (Alkane Chief Geologist) who is a competent person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Terry Ransted consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. The full details of methodology were given in the 2004 Annual Report.

Toongi Tonnage ZrO2 HfO2 Nb2O5 Ta2O5 Y2O3 REODeposit (Mt) (%) (%) (%) (%) (%) (%)Proved 8.07 1.91 0.04 0.46 0.03 0.14 0.75

Probable 27.86 1.93 0.04 0.46 0.03 0.14 0.74

Total 35.93 1.93 0.04 0.46 0.03 0.14 0.74These Ore Reserves are based upon information compiled by Mr Terry Ransted MAusIMM (Alkane Chief Geologist) who is a competent person as defined in the 2012 Edition of theAustralasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. The reserves were calculated at a1.5% combined ZrO2+Nb2O5+Y2O3+REO cut off usingcosts and revenues defined in the notes in ASX Announcement of 16 November 2011. Terry Ransted consents to the inclusion in the report of the matters based on his information inthe form and context in which it appears.

Note: ASX announcements 16 November 2011, 11 April 2013, 30 October 2013 and 27 August 2015 - the Company confirms that all material assumptions and technicalparameters underpinning the estimated Mineral Resources and Ore Reserves, and production targets and the forecast financial information as disclosed continue to apply andhave not materially changed.

Dubbo Project Resources & Reserves


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