Renascor Resources announced that is has signed its first Memorandum of Understanding (MOU) to provide graphite concentrates from its Siviour Graphite Project in South Australia.
The MOU with China’s Qingdao Chenyang Graphite (Chenyang) provides for the supply of graphite concentrates from Siviour in accordance with Renascor’s proposed staged development of Siviour, as contemplated by the Siviour Prefeasibility Study. See Renascor ASX announcement dated 14 March 2018.
During Stage 1, in which Renascor’s estimated annual production is 22,800t per year, Renascor would supply Chenyang with up 10,000t of graphite concentrates per year. During Stage 2, in which Renascor’s annual production increases to 156,000t per year, the supply to Chenyang would increase to up to 30,000t per year.
The MOU also contemplates cooperation between Chenyang and Renascor to establish pilot plant production at Chenyang’s facilities, as well as collaboration for the supply of advanced products from Siviour graphite.
The MOU between Chenyang and Renascor is non-binding and is intended to provide a framework for further negotiations in relation to price, product quality and other offtake parameters. Further discussions are planned for next month during a site visit to Chenyang’s facilities by Renascor executives.
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