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Avenira Limited (ASX: AEV) (“Avenira” or “the Company”) is pleased to advise that Advanced Lithium Electrochemistry Ltd (“Aleees”) and the Northern Territory (“NT”) Government has agreed to further extend and amend the Memorandum of Understanding (“MOU”) initially executed in September 20221 and extended in July 20232.
Parties have now agreed a revised project development timeline below:
The MOU builds on the ongoing project development workstreams undertaken by Avenira, Aleees and the NT government. The extension is valid until 30 June 2025.
Avenira continues to pursue the LFP battery manufacturing project following the completion of a positive Scoping Study3, which demonstrated the strong economic and technical viability of the project.
Under the September 2022 announcement, a tripartite non-binding MOU was signed whereby Avenira, Aleees and the NT Government would work towards the development of a LFP battery cathode manufacturing facility, with the NT Government assisting and advising where appropriate in relation to necessary infrastructure including water, energy, power, telecommunications, road, port and rail access and service requirements.
This agreement has been extended to 30 June 2025 to allow the NT Government to continue to provide Aleees and Avenira with support through to the completion of the next stage studies.
Commenting on the extension of the MOU, Avenira’s Charman and Chief Executive Officer, Brett Clark, said:
“The MOU extension demonstrates the continuing support of the Northern Territory Government and Aleees with this significant LFP cathode project in Darwin.”
Click here for the full ASX Release
This article includes content from Avenira Limited, 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.
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