Lulea Anode Plant. Source: Talga Group
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  • Talga Group (TLG) has extended its memorandum of understanding (MoU) with Mitsui & Co. Europe for the former’s Swedish battery anode project
  • The extension of the MoU through August 31, 2022 builds on the parties’ previous discussions under the agreement signed in 2020
  • The news comes after a previous tripartite letter of intent expired in late November
  • The MoU maintains the two companies’ intention to pursue potential co-development of Talga’s Vittangi Anode Project in Sweden through a joint venture
  • Shares in Talga last traded at $1.50 on December 10

The memorandum of understanding (MoU) between Talga Group (TLG) and Mitsui & Co. Europe, a subsidiary of Mitsui & Co, has been extended for the former’s Swedish battery anode project.

The extension of the MoU through August 31, 2022 builds on the parties’ previous discussions under the agreement signed in 2020.

The news comes after Mitsui & Co Europe and Luossavaara-Kiirunavaraa Aktiebolag’s letter of intent with Talga expired in late November.

Mitsui and Talga, on the other hand, stated they will continue to discuss project development under a separate memorandum of understanding.

The extended MoU between Talga and Mitsui maintains the two companies’ intention to pursue potential co-development of Talga’s Vittangi Anode Project in Sweden through a joint venture, but it also includes marketing, sales, and partnership opportunities across Talga’s lithium-ion battery product portfolio.

Talga Managing Director Mark Thompson said the company was pleased to continue and expand its relationship with a “trusted strong global partner in our goal of sustainable battery material technology and products.”

“Since starting to work together much has been achieved, and as demand for battery materials such as Talga’s has grown it is timely to expand our co-operation to also explore new opportunities and developments,” he said.

Prior to the MoU’s expiration date on August 31, 2022, Mitsui will have the non-exclusive right to negotiate and enter into relevant contractual agreements at their discretion.

If binding agreements are reached, the company will disclose information in accordance with its disclosure requirements.

Shares in Talga last traded at $1.50 on December 10.

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