Tungsten in fast charging EV batteries

Time to connect the dots......(the below article was recently posted on HC Starck's linkedIn page)

Just thought it was an appropriate time to reiterate the strength and incisiveness of the four way connection from EQR Resources to Cronimet and Masan Hi Tech (HC Starck) and Nyobolt.

We are all aware that EQ Resources has a significant multi generational tungsten supply in the ground at Mt Carbine (and they may even get access to other known and well recognised deposits in the area in the years to come - all in good time when the cash starts to flow)

We also know that EQR and Masan HiTech have recently signed a "technical collaborative" MOU to share technical information with each other.

We know that through our JV partnership with Cronimet that we have been able to develop and strengthen this connection to Masan and that Cronimet takes all of our concentrate product and provides the majority on to Masan. (Masan IS a tungsten producer in their own right through their Nui Phao mine in Vietnam - but they have a voracious appetite for more tungsten)

And finally that Masan, through its wholly owned subsidiary, HC Starck, have acquired a 15% stake in Nyobolt Ltd for EURO 52M. Nyobolt was started up by a group of Cambridge based academics led by Dame Clare Grey and after more than 20 years of research have developed a fast charging EV battery which, because it uses tungsten in the anodes, can literally fast charge in 5 minutes to 95% capacity and is safer because it can tolerate the high intensity heat generated in the process. This is/will be a game changer due to the speed and safety factor - should/if tungsten anodes were to become a mandatory safety standard, the implied demand on tungsten would be enormous

So why the voracious appetite ? These companies are all gearing up for the influx of these fast charging batteries and they absolutely need to ensure that once the product starts to hit the market in a big way, that they can maintain and uninterrupted momentum.

The Aust Govt have recently signed Critical Minerals agreements with UK, Germany, Vietnam and the USA - these countries are the home base/domicile of each of those 4 companies.

As already mentioned, these relationships are very strategic, very deliberate and they will all be very beneficial for the global tungsten industry as a whole.

Fast charging EV batteries are definite, they are proven and they are imminent - Almonty posted a comment some months back that up to 1.4kg of tungsten could go into each EV vehicle. At this stage this is unsubstantiated but should these batteries just take up a small % of market share this would have a huge impact on global demand.

2022 figures from USGS suggest that the top 11 tungsten producing countries are collectively producing less than 90,000 tonnes per year with global consumption exceeding well over 100,000 tonnes ( differences are partly explained by recycling and use of old stockpiles)

This could be extremely good timing for EQR but the key message here is to be aware of Nyobolt and their fast charging EV batteries - almost certainly they will change the tungsten landscape significantly.

HC Starck Tungsten Powders, Goslar, Germany, a subsidiary of MasanHigh-Tech Materials Group, has announced it is now marketing a range oftungsten powders for use in lithium-ion batteries under the starck2charge^® product brand. The movefollows on from the recent introduction of the starck2print^® brand for AdditiveManufacturing products and services.

The company reports in has made considerable progress in the lithium-ionbattery sector, and acquired a 15% stake in Britishstartup Nyobolt in July 2022. Nyobolt, which aims to launch a tungsten-based anode technology for ultra-fast charging batteries in the near future, emerged from research activities at Cambridge University and recently made it onto the Financial Times’ Tech Champions 2022 shortlist.

In parallel, HC Starck Tungsten Powders has been researching innovativecoatings for cathodes together with the Centre for Solar Energy and HydrogenResearch (ZSW) in Baden-Württemberg, Germany, since April of last year. Certainpowder mixtures are already available whose use in corresponding applicationshas been proven to increase the stability and safety of lithium-ion batteries.

“Tungsten-based products can make a significant contribution to thefurther development of battery technology,” stated Hady Seyeda, CEO. “In thishighly innovative field, we are not only developing new products, but alsointeracting with new target groups. The starck2charge brand makes it easier forus to differentiate ourselves and underlines our long-term commitment to thissector.”