Hazer Signs Heads of Agreement with Mineral Resources

Hazer Group (“Hazer” or “the Company”) (ASX:HZR, HZRO) is pleased to announce that it has signed a non-binding Heads of Agreement with Mineral Resources Limited (ASX:MIN), a leading and highly innovative full-service provider of mining infrastructure services in Australia.

Hazer and Mineral Resources intend to implement the Heads of Agreement through a binding Co-operation Agreement, to be drafted and executed in the near future.

Under the terms of the agreement, Mineral Resources and Hazer will work to jointly develop a large scale commercial synthetic graphite facility, initially targeted towards the production of at least 1,000 tonnes per annum (tpa) of ultra-high purity graphite and capable of modular expansion to a nominal 10,000tpa.

Mineral Resources will fund the entire project across all required stages of scale-up and development, with Hazer proving technical assistance and obtaining royalties from revenue generated by the sale of graphite from the commercial facility(s).

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