logo-loader

BlackEarth Minerals up 50% on joining European Battery Alliance along with graphite supply chain partner LuxCarbon

Last updated: 14:31 04 Mar 2021 AEDT, First published: 13:31 04 Mar 2021 AEDT

BlackEarth Minerals NL -
BlackEarth’s developed agreements and relationships in Germany and Europe provide it with a strategic advantage

BlackEarth Minerals NL (ASX:BEM) has surged on news that it has joined the European Battery Alliance along with German-based graphite supply chain partner LuxCarbon GmbH and both have pledged to provide industry support to the alliance and members.

The European Battery Alliance (EBA) was established by the European Commission in 2017 and has evolved to become one of the world's leading industry groups focused on the development of the growing EV and battery markets – estimated by EBA to be worth annually up to 250 billion Euro by 2025.

BlackEarth and LuxCarbon intend to support the alliance with industry experience and with plans to provide downstream processed products suitable to the EV market in Europe.

The company’s developed agreements and relationships in Germany and Europe that centre on graphite supply from Madagascar provide it with a strategic advantage to further grow the business in conjunction with EBA members.

Investors have responded strongly with shares as much as 50 per cent higher to 18 cents intra-day.

Towards downstream processing

Commenting on this initiative, managing director Tom Revy said: “We recently held discussions with the team at the European Battery Alliance and were highly encouraged to join as members.

“Membership of the alliance is a natural fit for our ambitions and the plans we have with our existing German-based supply partner, LuxCarbon.

“The team at BlackEarth is working toward the establishment of a downstream processing plant and we see the European market as a key destination for our range of products.

“Many of the existing Alliance members are already engaged with our partner in Europe and this provides us with enormous opportunities that are unique to BlackEarth”.

Concentrate from the current stage-2 pilot program at Maniry Graphite Project will be provided to certain EBA members for confirmation of the suitability of BlackEarth's product for the EV market.

Some of this product will be provided to Urbix Resources Inc, USA as well as to several members of the EBA that have a direct and substantial involvement interest in the manufacture and development of green technology battery products for vehicles including EVs and other uses.

Alliance facilitates business development 

The EBA was formed several years ago and since its inception, the EBA has grown extensively with members such as Tesla, Ford, BMW, Bosch, Volvo Cars and many other groups integral to the battery manufacturing supply chain.

Membership of the alliance allows BlackEarth and its supply chain partners to further develop business opportunities that will underpin its downstream processing plant whilst it also fast-tracks the development of the high-grade, high-quality graphite deposit in Madagascar.

Evion Group starts commissioning expandable graphite facility

Evion Group NL (ASX:EVG, OTC:EVIGF) managing director Tom Revy sits down with Jonathan Jackson in the Proactive studio to talk about the start of commissioning at its expandable graphite facility in India. Evion is in a 50/50 with Metachem Manufacturing Company Pvt Ltd., which has invested more...

on 25/1/24