PriceSensitive

Talga Resources (ASX:TLG) receives overwhelming interest from lithium-ion battery manufacturers

Materials
ASX:TLG      MCAP $269.6M
24 June 2020 15:00 (AEST)
Talga Resources (ASX:TLG) - Managing Director, Mark Thompson

Source: ABC

Talga Resources (TLG) is engaging with major lithium-ion battery manufacturers for battery anode products from the Vittangi Anode Project in Sweden.

Commercial samples of Talnode-C, and in some cases, Talnode-Si, are progressing through qualification processes under 36 active customer engagements — six of which are considered the world’s major original equipment manufacturers (OEMs).

Talga has received such a significant interest in Talnode-C that the requested supply triples the proposed annual production capacity outlined in the project’s pre-feasibility study (PFS). As a result, the company is expanding the Niska scoping study to evaluate larger anode production options.

“As we progress Talnode-C through commercial qualification stages with customers it is pleasing to note that interest now greatly exceeds our original planned production, and that the need to review expansion options has arisen this early,” Managing Director Mark Thompson said.

The potential larger production outcomes is in addition to the current Nunasvaara South PFS production plan of 19,000 tonnes per annum.

The scoping study is currently underway at three of Vittangi’s graphite resources which are not in the PFS. These include Niska South, Niska North and Nunasvaara. The study is expected to be completed in the September quarter.

Europe is the world’s fastest-growing region for lithium-ion battery manufacturing and will require 500,000 tonnes per annum of graphite anode supply by 2029.

Company shares are up 16.3 per cent and are trading for 50 cents each at 1:35 pm AEST.

Related News