Total
0
Shares
Quantum Graphite (ASX:QGL) renews Sunlands agreement
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Mineral Commodities (MRC) has entered into an exclusive non-binding memorandum of understanding (MOU) with Superior Graphite
  • The companies will work together to form a 50:50 joint venture
  • This venture will use Superior's proprietary electro-thermal purification technology to purify MRC's natural flake graphite at Superior's existing purification facility in Sundsvall, Sweden
  • The aim is to supply up to 20,000 tonnes per annum of sustainable graphite anode material to battery manufacturers in Europe, Scandinavia, the U.K. and Australia
  • Notably, the Swedish facility offers benefits including a port-side location and experienced staff
  • The arrangement will provide MRC with a faster route to vertical integration, greater margin capture and reduced technology risk and capex
  • MRC is due to commence a period of due diligence immediately
  • Mineral Commodities shares are up 8.06 per cent, trading at 33.5 cents each

Mineral Commodities (MRC) has entered into an exclusive non-binding memorandum of understanding (MOU) with Superior Graphite.

Through the MOU, the companies will work together to form a joint venture in which each partner will hold a fifty per cent stake.

The venture will use Superior's proprietary electro-thermal purification technology to purify MRC's natural flake graphite at its existing purification facility in Sundsvall, Sweden.

The arrangement is slated to provide MRC with a faster route to vertical integration, greater margin capture, reduced technology risk and capex.

Together, the companies will aim to produce, market and supply up to 20,000 tonnes per annum of sustainable graphite anode material to battery manufacturers in Europe, Scandinavia, the U.K. and Australia.

Notably, the Swedish operation offers several features that will be beneficial for production including a convenient port-side location, key infrastructure and access to low-cost hydro-nuclear renewable energy.

Furthermore, the Sunsdvall facility will be staffed and managed by personnel with decades of experience in advanced carbon manufacturing using Superior's technology.

MRC Chairman David Baker said the company is privileged to partner with Superior.

"The joint venture would provide MRC with a faster route to vertical integration for greater margin capture, reduced technology risk and capex while maintaining our commitment to produce the most sustainable graphite anode material possible," he said.

Superior Chairman and CEO Edward Carney also commented on the agreement.

"We are excited to partner with MRC to leverage our leading intellectual property and existing Sundsvall operations synergistically into the European battery anode market at this crucial time in demand for clean energy materials," Edward added.

MRC is due to commence a period of due diligence on the Sundsvall facility immediately.

Mineral Commodities shares are up 8.06 per cent, trading at 33.5 cents at 3:13 pm AEST.

MRC by the numbers
More From The Market Herald
Infinity Lithium Corporation (ASX:INF) - CEO and Managing Director, Ryan Parkin - The Market Herald

" Infinity Lithium Corporation (ASX:INF) shares crash amid Spanish permit cancellation

Infinity Lithium Corporation (INF) has nosedived on the ASX today after an investigation permit for its flagship San Jose Lithium Project in Spain
Bass Metals launch diamond drilling at Mahela prospect

" Essential Metals (ASX:ESS) expands porphyry zone at Gards prospect

Essential Metals (ESS) has expanded the porphyry zone to more than one kilometre of strike at the Gards prospect, which is located within
Argonaut Resources (ASX:ARE) - Chief Executive Officer, Lindsay Owler - The Market Herald

" Argonaut Resources (ASX:ARE) strikes iron oxide copper-gold system at Murdie

Argonaut Resources (ARE) has hit an iron oxide copper-gold system in the first drill of its current programme at the Murdie Project in