AVZ Minerals Limited (ASX: AVZ) has announced that it has signed a Memorandum of Understanding (“MOU”) with Beijing National Battery Technology Co., Ltd. (“BNB”) for potential investment and off-take opportunities with the Company. Beijing National Battery Technology Co., Ltd (www.nationalpower.com.cn) is headquartered in Beijing, China, and holds the dominant market position for the supply of batteries to China’s bus industry. The company holds more than 300 patents and has 6 high-performance lithiumion battery production lines in Henan, Zhejiang, Hubei and Jiangxi and other regions with annual production capacity in-excess of 3 billion AH. BNB has a strong focus on rapidly expanding its battery manufacturing capacity and securing long-life, low-cost lithium supply is seen as a critical part of their strategy. Discussions with BNB have been on-going for a number of months, and as part of BNB’s already-in-progress due diligence, the Company has extended an invitation to visit its operations in the Democratic Republic of Congo to help facilitate a proper appreciation of the enormous potential of the Manono Lithium Project. AVZ’s Executive Chairman Klaus Eckhof commented: “We are extremely excited to progress discussions with a company the size and calibre of Beijing National Battery Technology. The level of interest we are seeing in the Company following our recent record drill results, confirms once again the Manono Lithium Project as a world-class asset
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