Blackstone Signs Offtake MOU for Refinery Byproduct

Blackstone Minerals Limited (ASX: BSX) (“Blackstone” or the “Company”) is pleased to announce that it has entered into a MOU with Phu Minh and Viet Trung to research opportunities to repurpose and trade waste material (or residue) from its Vietnamese Ta Khoa Refinery into construction material products.

HIGHLIGHTS

• Blackstone identifies exciting strategy to convert Ta Khoa Refinery (“TKR” or “refinery”) residue into construction materials;
• The Company signed a 3-way Memorandum of Understanding (“MOU”) with Phu Minh Vina Environment Company Ltd (“Phu Minh”) and Viet Trung Refractory Material Construction Joint Stock Company (“Viet Trung”) to research opportunities to repurpose and trade waste material (or residue) from TKR into construction material products;
• Execution of residue offtake agreement/s will yield significant cost savings for the Ta Khoa Project as it will reduce on site storage requirements;
• Successful implementation of this strategy will reduce environmental impact of the residual storage facility, assisting permitting and licensing schedule. It will also allow for the development of locally produced construction materials and employment;
• Blackstone is actively in discussion with Vietnamese companies to develop offtake agreements for the remaining refinery byproducts as well as supply of reagents for the refinery.

Figure 1: Bricks made from Ta Khoa Refinery Residue

For a video summary of the announcement head to the Blackstone Investor Hub https://investorhub.blackstoneminerals.com.au/link/WPGXxy

RESIDUE OFFTAKE MOU

Blackstone Minerals Limited (“Blackstone” or the “Company”) is pleased to announce that it has entered into a MOU with Phu Minh and Viet Trung to research opportunities to repurpose and trade waste material (or residue) from its Vietnamese Ta Khoa Refinery into construction material products.

The MOU demonstrates that the refinery residue not only holds value but will result in less residue treatment and storage for Blackstone during the life of the operation, significantly improving financial metrics for the project.

Phu Minh own and operate a waste treatment plant in the Phu Tho Province, which is adjacent to the Son La Province in Vietnam, where Blackstone is building the refinery. Phu Minh commenced in 2007 working in the fields of environmental management and waste treatment.

Click here for the full ASX Release

This article includes content from Blackstone Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.