Magnis Energy Executes Binding EPC Contract with Metallurgical Corporation of China (MCC)

Magnis Energy Technologies Limited (“Magnis”, the “Company”) (ASX:MNS) is pleased to announce that it has executed a Binding Engineering, Procurement and Construction (“EPC”) contract with Metallurgical Corporation of China (“MCC”), to provide turn-key solution for a 240,000 tpa graphite production facility at the Company’s Nachu Project in Tanzania.

Highlights:

• Binding EPC Contract executed with Metallurgical Corporation of China (MCC), to provide a turn-key solution for The Nachu Graphite Project with the facility to produce 240,000 tpa graphite.
• MCC is the world’s largest metallurgical construction contractor and operation service provider, with over 130,000 employees, US $50 Billion of assets and over US $28 Billion in annual revenue
• Funding applications and negotiations have commenced with Export Credit Agencies and Banks for contributions to project funding, with at least 80% in debt or delayed payments targeted
• Value added graphite products for emerging industries to be manufactured using sustainable processes

For the full Press Release, click here.

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