Blackstone Minerals

Blackstone, Yulho and EN Plus Sign MOU to Develop a Global Nickel Business

Blackstone Minerals Limited (ASX: BSX) (“Blackstone” or the “Company”) is pleased to announce the signing of a non-binding MOU with Yulho and EN Plus.


KEY POINTS

  • Blackstone Minerals Limited (Blackstone or the Company), Yulho Co. Ltd (Yulho) and EN Plus Co. Ltd (EN Plus) (together, the Parties), have signed a non-binding Memorandum of Understanding (MOU) to explore one or more strategic Joint Ventures (JV)
  • The MOU aims to establish a collaboration across the businesses including EN Plus and Yulho who are in joint venture on the Ntaka Hill nickel sulphide project in Tanzania, and the Dinagat Island nickel laterite project in the Philippines
  • A collaboration will also include discussion regarding feedstock for the supply of nickel to Blackstone’s Ta Khoa Refinery in Vietnam
  • Yulho is a diversified IT and technology business looking to grow its existing battery manufacturing and recycling businesses in South Korea
  • EN Plus is a South Korean enterprise which is actively engaged in the field of battery material and mineral development, with an aim to broaden its international footprint

Figure 1: Scott Williamson, Managing Director, Mr Yongin Choi, EN Plus CEO and Dr. Hyunkuk JE, Yulho Vice President

The Parties will investigate the feasibility of establishing a strategic partnership, focusing on the following project specifics:

1. Yulho, via the creation of a joint venture in Tanzania, will engage in nickel mining, primarily to supply concentrate to Blackstone's facilities in Vietnam.

2. Blackstone's Vietnamese refining facility will be tasked with producing NCM811 precursor.

Watch a video summary of the announcement here.

Yulho Overview

Yulho is a company that specializes in providing comprehensive IT infrastructure solutions encompassing servers, storage, networking, virtualization, and cloud computing. It was acquired by EN Plus in December 2023. Yulho will be the holding company for EN Plus’s mining and battery materials businesses which currently include the Ntaka Hill nickel sulphide project in Tanzania, and the Dinagat Island nickel laterite project in the Philippines.

EN Plus Overview

EN Plus is a multifaceted enterprise which operates in several industries, including but not limited to telecommunications, energy, environmental services, and logistics. EN Plus is actively engaged in the field of battery material and mineral development. With an aim to broaden its international footprint, EN Plus is actively seeking strategic alliances with key mineral developers across the globe.


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.

BSX:AU
Blackstone Minerals

Blackstone Minerals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Blackstone Minerals

Blackstone Minerals


Keep reading...Show less
Blackstone Expands Strategy to Pursue Copper-Gold Projects

Blackstone Expands Strategy to Pursue Copper-Gold Projects

Blackstone Minerals (BSX:AU) has announced Blackstone Expands Strategy to Pursue Copper-Gold Projects

Download the PDF here.

Extension of Option to Acquire Major Nickel Asset

Extension of Option to Acquire Major Nickel Asset

Blackstone Minerals (BSX:AU) has announced Extension of Option to Acquire Major Nickel Asset

Download the PDF here.

Blackstone Minerals

Blackstone Minerals Announces Participation in Red Cloud's 2023 Pre-PDAC Mining Showcase

Blackstone Minerals (ASX: BSX) is pleased to announce that the Company will be presenting at Red Cloud's Pre-PDAC 2023 Mining Showcase. We invite our shareholders and all interested parties to join us.

The annual conference will take place in-person at the Sheraton Centre Toronto Hotel from March 2-3, 2023.

News Provided by Newsfile via QuoteMedia

[subscribe_company_profile use_post="101554437"]

Keep reading...Show less
Nickel tubes.

Nickel Price 2024 Year-End Review

Nickel markets have been underwhelming the past couple of years as an oversupply of the base metal exceeded demand. It was a trend that continued through the last quarter of 2024.

Indonesian supply was the primary force preventing a breakout in the nickel markets. The country continued to be the largest global source, with much of its nickel destined for Chinese-owned refineries in the country.

However, oversupply was also met with weak demand, as China’s economy continued to sputter after the COVID-19 pandemic. The Chinese housing and manufacturing markets are important demand drivers for nickel, which is used in stainless steel products.

Keep reading...Show less
Small pieces of nickel-chromium metal alloy.

ASX Nickel Stocks: 5 Biggest Nickel Mining Companies

Nickel has traditionally been used in alloys such as stainless steel. However, in recent years, growing demand for lithium-ion batteries has brought attention to its role in the quickly developing battery sector.

In Australia, the country's largest nickel-mining stocks are providing key support for both markets.

Nickel saw strong volatility in the first half of 2024 as Indonesian supply continued to flood the market, with some companies curtailing their production as the price fell below the US$16,000 per tonne mark in February.

Keep reading...Show less
Canadian flag draped over "Ni" symbol and stock chart.

5 Best-performing Canadian Nickel Stocks of 2024

After trending down in 2023, nickel prices climbed to a 10 month high in late May of this year. However, they've since pulled back to four-year lows. While this environment has been tough for nickel companies, some stocks are still thriving.

Supply is expected to outflank demand over the short term, but the longer-term outlook for the metal is strong. Demand from the electric vehicle (EV) industry is one reason nickel's outlook looks bright further into the future.

Battery nickel demand is poised to triple by 2030, according to Benchmark. “Mid and high level performance EVs will be the primary driver of battery nickel demand growth in the coming years, particularly in Western markets,” said Jorge Uzcategui, senior nickel analyst at Benchmark. “There will be growth in China, but it won’t be as pronounced as in ex-China markets.”

Keep reading...Show less
Blackstone Minerals

Accelerated Non-Renounceable Entitlement Offer Results

Blackstone Minerals Limited (ASX: BSX) (“Blackstone” or the “Company”) advises that the Company has completed its Accelerated Non-Renounceable Entitlement Offer as per the terms of the Prospectus dated 4 November 2024 (“Entitlement Offer”). As announced on 6 November 2024, the institutional component of the Entitlement Offer was completed raising approximately $550k from Nanjia Capital Limited and its controlled entities.

Keep reading...Show less
FPX Nickel (TSXV:FPX)

FPX Nickel


Keep reading...Show less
Blackstone Minerals

Blackstone Minerals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×