Some of PM1 major developments made this year Pure Minerals...

Some of PM1 major developments made this year

Pure Minerals announcing it had entered a non-binding memorandum of understanding (MoU) to supply LG Chem with up to 10,000 tonnes of contained nickel and approximately 1,000 tonnes of contained cobalt from its proposed Townsville Energy Chemicals Hub (TECH)Project.
By way of financing assistance, the South Korean company will consider a prepayment for offtake as well as the prospect of becoming a partner in the project through a direct equity investment.Strong chance to find funding An Independent Investment Research Report on Pure Minerals published earlier thisyear tipped TECH as a greater chance of attracting a heavyweight financial partner than other pre-production nickel projects.

“Because the [TECH] project is designed to produce specialty chemicals for sale directly to battery makers and has outstanding eco-friendly credentials perfectly suited for the sustainability-conscious EV market, it is much more likely to attract a strategic partner from the battery or automobile manufacturing sector than would an HPAL project,” the report said.

MOU for Joint Development of Iron Product with Sun Metals Corporation

Queensland Pacific Metals enters into MOU with Sun Metals Corporation to investigate the potential to produce a joint iron oxide product for sale into market . Parties to establish a Project Team which will assess the potential to deliver benefits such as increased scale and market presence and any cost synergiesIron co-product adds financial benefit for the TECH Project . If the Project studies are successful, QPM and Sun Metals have agreed to negotiate in good faith a commercial arrangement that is mutually beneficial. This may include joint venture, offtake for each parties’ respective product or some other commercial structure.

Scoping Study Confirms Potential of HPA Production at TECH Project with Outstanding Economics Highlights •Forecast production of 4,007tpa High Purity Alumina 99.99% (4N)

HPA’s main use is as a key component in the manufacture of light-emitting diode (“LED”) lighting systems and increasingly lithium ion batteries . In 2018, the global sales volume market of HPA was 44kt. This is forecast to grow to 155kt by 2023 (source:Technavio)

QPM has started to assemble an owner’s team to supervise and manage the operation of the pilot plant. As part of the owner’s team, QPM has engaged Hatch. The owner’s team will ensure the pilot plant meets Bankable Feasibility Study standards. Hatch is an internationally renowned engineering company with extensive experience in nickel and cobalt and familiarity with the Direct Nickel process. The involvement of Hatch is a stepping stone to commencing a Bankable Feasibility Study undertaken with them or other partners.