Western Mining Network (ASX:WMN) has signed a memorandum of...

Western Mining Network (ASX:WMN) has signed a memorandum of understanding to acquire up to 51% in South Korean refined graphite and graphene carbon materials manufacturer Carbon Nano-Material Technology Co., Ltd (CNT).

CNT also holds several patents and further patents pending relating to processes for the manufacture of these materials at significantly lower costs than other manufacturers.   

The acquisition is Western Mining’s first step in its long-term strategy to supplement its in-house technology and know-how with complementary third party technology and expertise in order to capture more of the carbon value chain.

CNT is already selling value added graphite products in the market using its proprietary portfolio of technologies and the alliance with WMN will both assure CNT of stable supplies of graphite and help it build its own manufacturing as well as research and development capacity.

In turn WMN is extending its reach into the downstream sector and acquiring valuable technology and expertise to help it derive greater revenue and higher margins from its resource base rather than being merely a commodity supplier.

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