- Hyperion Metals (HYM) signs a supply agreement with The Chemours Company, one of the world’s largest producers of high-quality titanium dioxide products
- The agreement is for the potential supply of titanium feedstocks to Chemours from Hyperion’s Titan project in West Tennessee
- Hyperion says this deal provides a “compelling opportunity” to develop a partnership to grow a low carbon domestic supply chain of critical mineral feedstocks in the US
- The MOU is non-exclusive, non-binding and is subject to negotiation and expires on October 31, 2024
- On the market today, Hyperion is down 0.6 per cent and trading at 82.5 cents per share
Hyperion Metals (HYM) has entered into a non-binding memorandum of understanding (MOU) with The Chemours Company.
The agreement is for the potential supply of titanium feedstocks to Chemours from Hyperion’s Titan project in West Tennessee.
Under the potential agreement, Hyperion will supply Chemours 50,000 tonnes of ilmenite, 10,000 tonnes of rutile and 10,000 tonnes of staurolite annually for an initial five years.
Chemours is one of the world’s largest producers of high-quality titanium dioxide products for coatings, plastics and laminates. Its pigment plant at New Johnsonville, located around 20 miles from Titan.
Titan’s maiden mineral resource estimate has confirmed that it is one of the largest and most important critical mineral deposits in the US.
HYM CEO and Managing Director Anastasios Arima was pleased to be working with Chemours.
“The combination of high quality critical minerals at the Titan Project and its proximity to Chemours’ New Johnsonville operation, one of the largest pigment plants in the world, provides a compelling opportunity to develop a partnership to grow a low carbon domestic supply chain of critical mineral feedstocks in the US,” he said.
The MOU is non-exclusive, non-binding and is subject to negotiation and expires on October 31, 2024.
On the market today, Hyperion was down 0.6 per cent to trade at 82.5 cents per share at 1:56 pm AEDT.