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Quantum Graphite (ASX: QGL) has welcomed news its downstream technology partner Sunlands Pure Group (SPG) has signed a memorandum of understanding (MoU) with the Governorate of Al Buraimi in Oman.
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The MoU relates to Sunlands Pure Group’s (SPG) development of a large-scale graphite refinery and related supporting activities to be constructed in Buraimi.
Importantly the MoU recognises Quantum as a critical partner and the exclusive supplier of flake graphite to SPG.
QGL is the owner of the Uley flake graphite mineral deposits located south-west of Port Lincoln, South Australia. The Uley 2 project represents the next stage of development of the century old Uley mine, one of the largest high-grade natural flake deposits in the world.
SPG’s technologies can purify natural flake graphite to a purity of 99.9% graphitic carbon making it suitable for key markets including manufacturers in the li-ion battery anode, isostatic graphite and thermal energy storage market segments.
The Buraimi project is officially recognised as an Oman Viion 2040 project, the source of the country’s national strategies and the five-year development planning essential to the nation keeping pace with local, regional, and global changes.
The MoU codifies the existing and ongoing support from the Governorate and provides a pathway for the expedited development of the graphite refinery.
The integrated graphite purification and packaging facility will service global markets, including li-ion battery anode, isostatic graphite and thermal energy storage market segments.
Quantum said it expects to be make further announcements within two weeks relating to the company’s exclusive arrangements with SPG’s integrated downstream processing and refining facilities, the overall financing of those activities and the company’s Uley 2 project.
QGL is steady at 46.0c. Market cap $161.2M.
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