- Renascor Resources (RNU) has signed a non-binding memorandum of understanding (MOU) to supply purified spherical graphite (PSG) from Siviour to Hanwa
- The Japanese-based global trading company will purchase up to 10,000 tonnes per annum of the product from the battery anode material operation over ten years
- This is the third offtake MOU the company has signed for that amount of PSG from the planned South Australian operation, and as such Renascor is considering an increase to its stage one production plans
- The final amount and terms of the offtake arrangement with Hanwa will be finalised as the companies progress to a binding agreement
- Shares have jumped 13.3 per cent to trade at 17 cents
Renascor Resources (RNU) has signed a non-binding memorandum of understanding (MOU) to supply purified spherical graphite to Hanwa.
The MOU provides for the Japanese-based global trading company to purchase up to 10,000 tonnes per annum (tpa) of the product from Renascor’s South Australia operation over a ten-year period.
The planned battery anode material operation will have a stage one production capacity of 28,000 tpa of PSG.
“Our MOU with Hanwa is a further significant step toward Renascor constructing, in Australia, the first integrated, in-country mine and purified spherical graphite operation outside of China,” said Renascor Managing Director David Christensen.
“We are particularly pleased to be working with Hanwa, a leading Japanese-based global trading company, providing access to the Japanese anode market, which is the largest market for PSG outside of China.”
This is the third offtake MOU for 10,000 tpa of PSG the Resascor has signed.
“The Hanwa MOU, together with our other PSG offtake MOUs with Minguang New Material and Zeto, potentially accounts for over 100 per cent of our planned Stage 1 PSG production,” said David.
“As a result of an increase in inbound enquiries from globally recognised anode and battery companies for Siviour PSG, we are now considering an expanded Stage 1 production capacity and, or an additional Stage 2 PSG production capacity.”
The final amount and terms of the Hanwa offtake arrangement will be finalised as the companies progress to a binding agreement.
Shares have jumped 13.3 per cent to trade at 17 cents at 10:32 am AEDT.