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MRC Fast Tracks Anode Production into European Battery Market with Superior Graphite JV

anode battery graphite

MRC fast tracks anode production into European battery market with Superior Graphite joint venture.

Mineral Commodities Ltd (“MRC” or “the Company”) announce that it has entered into a non-binding Memorandum of Understanding (“MOU”) with Superior Graphite Co. (“Superior”) (together “the Partners”) to work together exclusively to negotiate and form a 50:50 Joint Venture (the “JV”).

The JV would use Superior’s proprietary electro-thermal purification technology to purify MRC’s natural flake graphite at Superior’s existing thermal purification facility located at Sundsvall, Sweden (“Sundsvall Facility”) under licence from Superior. MRC has been granted exclusivity to undertake a period of due diligence on the Sundsvall Facility.

The aim of the JV is to produce, market and supply up to ~15-20,000tpa Sustainable Graphite Anode Material to battery manufacturers in Europe, Scandinavia, United Kingdom and Australia.

Sundsvall is located approximately 1,200km south of Skaland with an existing commercial
port and access to low-cost hydro-nuclear renewable energy. The Sundsvall Facility has key infrastructure in place including thermal purification capacity, electrical substructure, control rooms, bagging, palletising, laboratory facilities and administrative offices.

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Based on Superior’s preliminary assessment, existing thermal purification capacity could be complemented by auxiliary technology to provide an efficient, sustainable in-situ coated anode material for Li-Ion batteries.

Most importantly, under the JV, the Sundsvall Facility would come with operating personnel and management with decades of advanced carbon manufacturing experience using Superior’s proprietary purification technology.

David Baker, MRC’s Chairman said:

We are privileged to have the opportunity to partner with Superior.

“The JV would provide MRC with a faster route to vertical integration for greater margin capture, reduced technology risk and capex while maintaining our commitment to produce the most sustainable graphite anode material possible”.

Mr Edward Carney, Superior’s Chairman and CEO said:

We are excited to partner with MRC to leverage our leading intellectual property and existing Sundsvall operations synergistically into the European battery anode market at this crucial time in demand for clean energy materials.

MRC will immediately commence a period of due diligence on the Sundsvall Facility, the
acquisition structure and the opportunity more generally and its conversion. Further details about Superior Graphite, MRC and the MOU are appended.

• MRC has entered into an exclusive non-binding MOU to form a 50:50 Joint Venture with Superior Graphite Co. to purify natural flake graphite anode material for LiB battery manufacture at Superior’s existing Sundsvall plant in Sweden.

• The Joint Venture provides MRC with a faster route to vertical integration, greater margin capture, reduced technology risk and capex.

• Superior has the world’s largest continuous graphite thermal purification capacity utilising its proprietary technology.

• Thermal purification is the only current commercially viable large-scale technology, other than chemical processing requiring toxic hydrofluoric acid, utilised within China.

• The Joint Venture would produce, market and supply Sustainable Graphite Anode Material primarily to European battery manufacturers seeking supply ex-China.

• The Joint Venture would have a proposed production capacity of ~15- 20,000tpa of Sustainable Graphite Anode Material.

• Superior Graphite´s existing operation in Sundsvall, Sweden is situated at a port, has key infrastructure in place including existing thermal purification capacity, and has access to low-cost hydro-nuclear renewable energy.

MRC FAST TRACKS ANODE PRODUCTION INTO EUROPEAN BATTERY MARKET WITH SUPERIOR GRAPHITE JOINT VENTURE, April 13, 2021

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