ChemX Materials

MOU Signed with Pure Battery Technologies & GM Battery Materials Technology Appointed

ChemX Materials Ltd (ASX:CMX) (ChemX or the Company), a materials technology company focused on providing the critical materials required for electrification and decarbonisation, is pleased to announce it has signed a Memorandum of Understanding (MOU) with Pure Battery Technologies (PBT) which could lead to ChemX supplying suitable manganese to PBT’s proposed battery material refinery hub in Kalgoorlie, Western Australia.


Highlights

  • ChemX Materials signs MOU with Pure Battery Technologies (PBT) to supply suitable manganese to PBT’s proposed Australian battery material refinery hub
  • ChemX Materials progresses its growth strategy with the appointment of Tony Tang as GM of Battery Materials Technology

PBT is pursuing the development of a battery cathode active material refinery hub in Kalgoorlie after being granted A$119.6 million in the Modern Manufacturing Initiative from the Australian Federal Government.

Under the MOU, which is non-exclusive for either party, ChemX and PBT will progress studies and associated works to enable ChemX to supply a suitable manganese product to PBT’s Kalgoorlie battery hub, from the Company’s High Purity Manganese Sulphate Monohydrate (HPMSM) Project located on the Eyre Peninsula in South Australia.

ChemX Managing Director David Leavy said, "The MOU will be mutually beneficial for PBT and ChemX as they execute their respective strategies in complementary segments across the lithium battery value chain.

Our 100 per cent-owned South Australian Jamieson Tank Manganese Project shall now focus on further exploratory drilling and manganese testwork for production of HPMSM, which is particularly suitable for the lithium battery cathode precursor market.”

ChemX and PBT will meet their own costs in undertaking the studies covered under the MOU and will cooperate in good faith to negotiate a binding offtake agreement should ChemX’s manganese project proceed to development. The parties aim to complete the studies within the next six months.

Click here for the full ASX Release

This article includes content from ChemX Materials, 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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