Australia-based Pure Minerals Limited has signed an offtake Memorandum of Understanding (MoU) to supply 6,000mt of nickel per annum from its TECH Project to battery manufacturer Samsung SDI Co Limited, according to media reports.
Samsung SDI seeks to purchase a combination of mixed hydroxide precipitate (MHP) and final battery chemical sulfate forms through the MoU and the initial term of the offtake agreement will be for three to five years. The term for the MoU is 12 months, after which, it could be extended by mutual consent.
Through the Townsville Energy Chemical Hub (TECH) Project, a refinery in Northern Queensland, Pure Minerals aims to process 600,000mt of laterite ore a year to produce 25,000mt of nickel sulfate and 3,000mt of cobalt sulfate per annum.
Samsung SDI is one of the top manufacturers of lithium-ion batteries across the globe.