News: EGR UPDATE 1-Australia's EcoGraf considers battery anode material facility development in...

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Oct 9 (Reuters) - Australia's EcoGraf (EGR) said on Monday it would evaluate prospects of developing a battery anode material (BAM) facility in Vietnam in collaboration with local lithium-ion battery manufacturer VinES Energy Solutions (VinES).

The Australian graphite producer will support VinES with its U.S.-patented BAM processing technology, whereas VinES, a member of the Vin Group, will provide its services to support EcoGraf's expansion plans in the United States.

EcoGraf will evaluate the potential to combine a localised graphite material supply in Vietnam with future feedstock from its Epanko project in Tanzania, the company said in a statement.

"The agreement provides for a phased evaluation programme under which VinES and EcoGraf will initially assess and qualify local Vietnam graphite suppliers, with a view to incorporating domestic production into the supply chain," EcoGraf said.

The companies will enter a binding agreement to jointly develop a battery anode supply chain in Vietnam with further options for certain financing, investments and product offtake agreements.

Following the initial evaluation, a feasibility study will be undertaken on the proposed facility that includes regulatory approvals and key project agreements for feedstock supply among others to enable the companies make a final investment decision.