Home Commodities Mineral Commodities (ASX:MRC) enters collaboration with Mitsubishi Chemical Corporation – The Market...

Mineral Commodities (ASX:MRC) enters collaboration with Mitsubishi Chemical Corporation – The Market Herald

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  • Mineral Commodities (MRC) joins forces with Mitsubishi Chemical Corporation to collaborate on graphitic anode materials supply in Europe
  • The companies co-signed a non-binding memorandum of understanding which will see the parties explore collaboration opportunities
  • These include a manufacturing and supply agreement for an anode plant in Norway and the production and sale of active anode material in Europe
  • The company says phase one of the agreement is already considerably advanced, with MRC already conducting engineering design for the anode plant
  • Mineral Commodities shares climb 14.3 per cent, trading at 12 cents at 1:28 pm AEST

Mineral Commodities (MRC) has joined forces with Mitsubishi Chemical Corporation to collaborate on graphitic anode materials supply in Europe.

Mineral Commodities co-signed a non-binding memorandum of understanding which will see the two parties explore collaboration opportunities.

These include a manufacturing and supply agreement in which MRC will construct and operate an anode plant in Norway to toll treat graphitic material supplied by Mitsubishi (MCC). This will be done via MRC’s wholly-owned Norwegian subsidiary, Ascent Graphite AS.

Additionally, the deal will see the companies produce and sell active anode material in Europe, manufactured using MRC’s purified graphitic materials and MCC’s active anode materials technologies.

The company said phase one of the agreement is already considerably advanced, with MRC conducting engineering design for the anode plant. A final investment decision is expected by the third quarter of 2022.

CEO and Managing Director of Mineral Commodities Jacob Deysel said MCC has significant experience and expertise in anode materials, which makes them the perfect collaborative partner to build its European Sustainable Graphitic Anode production strategy.

“With our Phase one toll manufacturing agreement, we will gain early entry and invaluable experience in the anode materials supply chain,” Mr Deysel said.

Meanwhile, phase two will target a broader collaboration to manufacture and sell high quality active anode material in Europe.

“The Phase 2 business collaboration provides the opportunity to leverage MCC’s expertise and our natural graphite operations at Skaland and environmentally sustainable purification technology for Europe’s first vertically integrated ore-to-anode materials business,” Mr Deysel added.

Mineral Commodities shares climbed 14.3 per cent, trading at 12 cents at 1:28 pm AEST.

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