Blackearth minerals progress toward proposed downstream processing graphite plant joint venture

BlackEarth Minerals NL (ASX: BEM)
  • Executives from BlackEarth and Metachem Manufacturing Company Pvt. Ltd. (“Metachem”) have made positive progress toward signing legally binding agreements for the JV (Binding JV Agreements)
  • In anticipation of the finalisation and execution of Binding JV Agreements in the near future, significant work has been undertaken with the preparation of a Stage 1 plant development plan
  • Several potential development sites have been selected with a final decision on the preferred site imminent
  • The potential development sites are located within Special Economic Zones (“SEZ’s”) in India which can offer significant tax, power and other economic concessions to developers
  • Proposed JV partner, Metachem, is globally recognised as a leading producer and supplier of world class Expandable Graphite
  • BlackEarth has secured a binding commitment from global graphite downstream processing leaders, Grafitbergbau, Austria to buy up to 2,500mt per annum of the proposed JV’s production of Expandable Graphite
  • BlackEarth expects demand for the proposed JV’s Expandable Graphite product would rapidly expand to meet projected world-wide supply shortages
  • The Board of BlackEarth is pleased to report that, following the signing of an MOU in late June 2021, significant work has been and continues to be undertaken with proposed JV partner Metachem, in order to finalise and sign Binding l JV Agreements in the short term.

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