Magnis Energy Technologies Limited (ASX: MNS; OTCQX: MNSEF) has signed a legally binding offtake agreement with Traxys Europe SA.
Traxys Managing Director, Kevin Smith, said the Offtake Agreement provides for the future delivery and sale of high-quality, high purity natural flake graphite from Magnis’ wholly owned Nachu Graphite Project located in South-East Tanzania.
“We have been keenly interested in the high purity graphite produced from Nachu for several years. There is a huge demand from lithium-ion battery producers for all battery materials including graphite and being able to produce a battery grade anode product via mechanical processes only is a very unique feature of Nachu Graphite,” Mr Smith said.
“We are excited to be partnering with Magnis on this important project.”
Magnis Chairman, Frank Poullas, said Traxys is a supplier of materials to many industries including lithium-ion battery manufacturers.
“Today’s announcement follows months of providing flake graphite samples from Nachu and is a major step in securing funding for Magnis’ Nachu Graphite Project.”
Highlights:
• Offtake Agreement allows for the delivery by Magnis of natural graphite concentrate for a six-year period starting in late 2024
• Offtake Agreement allows for the delivery of 600,000 tonnes of natural graphite covering all flake sizes
• Pricing of graphite concentrate to be delivered by Magnis under the Offtake Agreement is based on market prices of graphite concentrate at the time of delivery
For further information please visit: https://magnis.com.au/#
