Strategic Cooperation and Offtake Agreement with POSCO Non-binding MOU to supply up to 30ktpa of PSG to South Korean conglomerate POSCO and potential equity investment by POSCO in Renascor Highlights: • Renascor Resources (ASX: RNU) (“Renascor”) enters into non-binding Strategic Cooperation and Offtake Memorandum of Understanding (“MOU”) with South Korean conglomerate POSCO. • The MOU provides for the purchase of 20,000 to 30,000tpa of Purified Spherical Graphite (“PSG”) from Renascor’s planned Battery Anode Material operation in South Australia and also provides for a potential equity investment by POSCO in Renascor. • POSCO, one of South Korea’s largest conglomerates, is the largest anode manufacturer outside of China, with production capacity of 44,000tpa and a further 69,000tpa in construction. • Listed on the New York Stock Exchange and Korean Stock Exchange with a market capitalisation of over US$25 billion1 , POSCO is the world’s leading steel-making company2 and one of the world’s largest suppliers of lithium-ion battery material3 . POSCO operates in 52 countries with more than 29,000 employees4 and is the largest single private customer of Australian exports5 . • Recently, POSCO has been actively pursuing battery minerals exposure in Australia through transactions with Pilbara Minerals (lithium)6 and First Quantum (nickel)7 . POSCO’s stated goal is to become the world’s top player in the global electric vehicle battery materials market by 2030 by establishing a value chain from raw material procurement to battery materials production8 . • With the MOU with POSCO, Renascor has now executed and announced offtake MOUs covering up to 60,000tpa of PSG. Renascor’s currently proposed Stage 1 PSG production capacity is approximately 30,000tpa. In addition, Renascor continues to receive a significant volume of inbound enquiry from globally-recognised international groups that are leaders in the battery supply chain. • To fulfil the increased offtake volume requirements, Renascor is currently undertaking feasibility work to facilitate an increase in Stage 1 PSG production capacity and a Stage 2 expansion
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