EcoGraf and POSCO weigh critical minerals chain in Tanzania
PERTH (miningweekly.com) – ASX-listed EcoGraf has signed a non-binding cooperation agreement with South Korea’s POSCO International to establish a potential battery anode materials supply chain in Tanzania.
The two companies have agreed to enter into definitive arrangements for the sale and purchase of battery anode material products over an initial ten-year term, from the start of production.
In the first year of the offtake agreement, EcoGraf will supply between 7 500 t and 12 500 t of battery anode material. This will increase to between 12 500 t/y and 20 000 t/y between year two and year five of the offtake, and will again increase to between 20 000 t/y and 40 000 t/y between year six and year ten.
The two companies will also collaborate in establishing a global battery anode materials supply chain hub in Tanzania, with the development and expansion of EcoGraf’s Epanko graphite mine, the development of the Merelani-Arusha graphite project, the development of battery anode material micronizing and spheronizing facilities to supply unpurified spherical graphite for purification, and the development of by-product fines, including EcoGraf's GreenRECARB.
Under this agreement, POSCO’s engineering, construction, financing and investment capabilities will be engaged.
Additionally, the two companies will leverage EcoGraf’s proprietary graphite purification technology, locating planned battery anode material processing facilities near planned POSCO anode production developments to ensure logistical and operational efficiencies, and having the two companies collaborate on customised purification technologies to de-risk the short-term supply chain risk in South Korea, Europe and North America.
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