ChemX’s MoU with C4V to advance its high purity manganese project
Link copied to
ChemX’s goal of becoming a high-purity battery materials supplier has taken a key step ahead with the signing of a non-binding MoU with battery technology company C4V.
Under the memorandum of understanding, C4V – a global leader in renewable battery technology that is involved in some of the world’s largest gigafactory developments – will work with the company to progress its High Purity Manganese (HPM) project and work towards an offtake deal.
Importantly for ChemX Materials (ASX:CMX), the agreement provides a pathway for its HPM to gain supply chain qualification and eligibility for inclusion in C4V-affiliated gigafactories such as Recharge Industries’ gigafactory in Geelong, Australia, and iM3NY’s gigafactory in the US.
This includes the provision of a framework to ensure that its battery materials meet the requirements of C4V’s technology and qualify for inclusion in C4V’s supply chain.
Additionally, while HPM is the initial focus of the MoU, it includes provision for the two companies to work together on additional materials needed for C4V’s lithium-ion battery cells including ChemX’s high purity alumina project.
“The MoU with C4V is a powerful step forward in ChemX’s journey to enter the global lithium-ion battery supply chain. To attract the calibre of an industry leader like C4V confirms the potential of ChemX’s strategy to become a supplier of high-purity materials to the battery sector,” chief executive officer Mark Tory said.
“The nature of battery materials means it is essential to enter into early engagement with potential customers to ensure products are made to specification, which this MoU provides for.
“We will now work with C4V through the supply chain qualification process with the goal of progressing towards a binding offtake agreement for HPM produced by ChemX.”
ChemX’s HPM project is based on owning its own manganese ore mineral deposit and using its purification flowsheet to produce reliable, high-purity volumes of battery grade manganese in Australia.
An initial metallurgical testwork has already been successfully completed using its manganese ores and the flowsheet design for the HPM process is now being optimised.
The company also expects to start work on a Pre-Feasibility Study in the second half of 2023 while a resource estimate for the manganese project is expected in June.
This article was developed in collaboration with ChemX Materials, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.