Renascor Resources and Japanese anode material manufacturer Mitsubishi Chemical have signed a non-binding strategic cooperation memorandum of understanding (MoU) for the supply of graphite products and a potential commercial partnership.
According to the MoU, Mitsubishi can purchase graphite concentrates, purified spherical graphite and other graphite products from Renascor’s Siviour graphite and battery anode material (BAM) project in South Australia.
Furthermore, the MoU establishes a framework for Mitsubishi to work with Renascor to consider a commercial partnership to help advance the development of the BAM Project.
Mitsubishi and Renascor will also undertake further product validation test work on Renascor’s graphite products, as well as negotiate to determine potential contract delivery terms and a commercial partnership.
Renascor managing director David Christensen said: “As we move forward to the completion of our optimised battery anode material study and our transition into the construction phase, we will continue to align Renascor with leading anode companies seeking high-quality graphite concentrates and purified spherical graphite.
“Our agreement with Mitsubishi Chemical is a further significant step toward Renascor constructing, in Australia, the first integrated, in-country mine and purified spherical graphite operation outside of China.”
Australian mining firm Renascor already has non-binding offtake deals with companies such as South Korea’s Posco, China’s Shanxi Minguang New Material Technology and Japan’s Hanwa for processed graphite at the project.
Renascor is currently in the advanced stages of an updated study for the BAM facility. The study aims to assess an increase in purified spherical graphite production capacity.
