- Suvo Strategic Minerals (SUV) has executed a memorandum of understanding to supply kaolin to one of the world’s largest ceramic product producers
- Suvo is set to provide tailor-made refined kaolin products for LIXIL AS Sanitary Manufacturing after Suvo’s kaolin sample passed the company’s initial testing
- More broadly, the memorandum of understanding is hoped to develop further mutually beneficial commercial opportunities and long-term supply agreements for Suvo and its new partner
- Further bulk samples are set to be dispatched in the near term to continue product development
- Suvo Strategic Minerals is trading in the grey at 16.5 cents per share
Suvo Strategic Minerals (SUV) has executed a memorandum of understanding to supply kaolin to one of the world’s largest ceramic product producers.
Under the agreement with LIXIL AS Sanitary Manufacturing — the Chinese legal entity of LIXIL — Suvo is set to produce tailor-made refined kaolin products, with further potential supply agreements extendable to all LIXIL group entities.
The arrangement comes after Suvo’s kaolin sample passed LIXIL ASTJ’s initial
testing with further bulk samples set to be dispatched imminently to continue product development and identify further commercial opportunities.
More broadly, Suvo says the memorandum of understanding is hoped to develop further mutually beneficial commercial opportunities and long-term supply agreements.
“This is a significant milestone in Suvo’s development in becoming a serious and recognised supplier of high-quality hydrous kaolin products globally,” Suvo’s Executive Chairman Robert Martin commented.
“To work with Tier one manufacturers in the global ceramics industry such as LIXIL ASTJ, provides a significant opportunity for Suvo,” he added.
At this stage the agreement is non-binding, and there’s no guarantee the deal will come to fruition.
Suvo Strategic Minerals is trading in the grey at 16.5 cents per share at 1:31 pm AEDT.