Alpha HPA (ASX:A4N) said the trustee of QIC Critical Minerals and Battery Technology Fund approved a change in terms for the AU$30 million commitment provided to the firm's wholly-owned subsidiary, Alpha Sapphire, to transfer it to Alpha HPA, according to a Friday Australian bourse filing.

The fund intends to enter into new royalty deeds with wholly-owned subsidiaries of Alpha to provide a more flexible source of funding for Alpha's business, and the fund obtained final investment committee approval.

The firm said the undrawn AU$27 million in the commitment may be used to fund the High Purity Alumina First project in Queensland, Alpha Sapphire, and for general corporate purposes.