Renascor Resources confirmed its signing of a non-binding memorandum of understanding to supply its purified spherical graphite from South Australia to China’s Jiangxi Zhengtuo New Energy Technology (Zeto).
The ten-year agreement for the lithium-ion battery anode material will be supplied by Renascor’s Siviour operation. It will allow for up to 10,000 tonnes each year.
No financial details were made available.
Still ahead are additional product validation tests on the material before a binding deal can be formalised. The newest deal makes up one-third of Siviour's projected annual production capacity. Another one-third of production is headed to Minguang New Material as part of a similar agreement.
Renascor said it is negotiating additional possible offtakes for its remaining production.
The Siviour project is the largest graphite reserve outside of Africa.