Join our daily newsletter At The Bell to receive exclusive market insights
- ChemX (CMX) signs a memorandum of understanding (MoU) with Pure Battery Technologies (PBT) to supply suitable manganese
- The MoU will have CMX supply material to PBT’s proposed Australian battery material refinery hub in Kalgoorlie from its high purity manganese (HPMSM) project
- The parties 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
- Concurrently, the company has appointed Tony Tang as General Manager of Battery Materials Technology to drive the studies and development of the project
- Shares in ChemX are up 5.88 per cent to end the day at 18 cents
ChemX (CMX) has signed a memorandum of understanding (MoU) with Pure Battery Technologies (PBT) to supply suitable manganese to PBT’s proposed Australian battery material refinery hub in Kalgoorlie, Western Australia.
Under the non-exclusive MoU, the parties will progress studies and associated works to supply material to PBT’s Kalgoorlie battery hub from its high-purity manganese sulphate monohydrate (HPMSM) project in the Eyre Peninsula, South Australia.
The parties 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.
The company said the parties aim to complete the studies within the next six months.
“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,” Managing Director David Leavy said.
“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.”
Concurrently, the company has appointed Tony Tang as General Manager of Battery Materials Technology to drive the studies and development of the project.
Mr Tang joins ChemX from Blackstone Minerals (BSX) where he was General Manager of Project Development – Downstream.
“Mr Tang is a welcome addition to the company and will be primarily focused on the advancement of the Jamieson Tank HPMSM Project,” Mr Leavy said.
“His extensive technical knowledge will also be valuable in the development of ChemX’s rare earth element and kaolin opportunities across its wholly-owned tenements on South Australia’s Eyre Peninsula.”
Shares in ChemX were up 5.88 per cent to end the day at 18 cents.
