Pure Minerals Ltd
Pure Minerals Ltd (ASX:PM1), through its wholly owned subsidiary Queensland Pacific Metals Pty Ltd (QPM), is focused on developing a modern battery metals refinery in northern Queensland.
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Pure Minerals higher on signing nickel offtake MOU with lithium-ion battery manufacturer Samsung SDI
Pure Minerals Ltd (ASX:PM1) is trading higher on entering a non-binding Memorandum of Understanding (MOU) with Samsung SDI Co Ltd for the supply of nickel from the TECH Project, 100%-owned by its wholly-owned subsidiary Queensland Pacific Metals Pty Ltd (QPM).
Samsung SDI is a global leader in the manufacture of lithium ion batteries and is seeking to purchase up to 6,000 tonnes per annum of contained nickel from the TECH Project.
Shares have been as much as 28% higher to 4.7 cents after reaching a new 9-year high of 5.3 cents on October 15.
"Gaining traction with end users"
Pure Minerals chief executive officer Stephen Grocott said: "We are delighted at the opportunity to work with Samsung SDI to become a potential customer of the TECH Project.
"We are consistently gaining traction with end users who view Pure Minerals as a potential part of their future supply chain.
"This is evident in the MOUs we have signed to date with LG Chem and Samsung SDI."
Other Pure Minerals Ltd news
- Pure Minerals subsidiary aims for Q4 start of pilot plant operations at TECH project
2020-09-03 - Pure Minerals appoints mineral processing industry leader Dr Stephen Grocott as chief executive officer
2020-07-21 - Pure Minerals strengthens balance sheet to continue advancing Townsville Energy Chemicals Hub Project
2020-05-04 - Pure Minerals subsidiary QPM will treat bulk laterite sample at pilot plant
2020-02-27 - Pure Minerals reveals HPA scoping study and acquires PNG nickel project
2020-02-11
