Commenting on the December 2020 quarter, Australian Mines’ Managing Director, Mr Benjamin Bell, said: “During the quarter there was a considerable amount of activity and effort going on behind the scenes to progress our offtake and financing activities.
“It is worth reiterating that the Company is firmly committed, focused and in a strong position to take advantage of the expected increase in global demand for nickel and cobalt, being essential commodities used by electric vehicle battery makers, automotive manufacturers (also called ‘OEMs’, or original equipment manufacturers) and in the storage and delivery of clean, sustainable energy sources.”
Advanced battery materials developer, Australian Mines Limited is pleased to advise it has recently accelerated research and development into the production of high value-add precursor cathode active material (P-CAM) for Nickel-CobaIt-Manganese (NCM) batteries at its flagship Sconi Project. This follows the Company’s ongoing success in producing P-CAM products (for NCM523, NCM622 and now NCM811 batteries) whose specifications mirror those of major electric vehicle battery manufacturers.
Throughout the 2020 financial year, Australian Mines maintained its focus on bringing the Company’s world-class, Sconi Nickel-CobaIt-Scandium Project in North Queensland into production. When fully developed, the Sconi Project will be one of the world’s most cost- competitive producers of battery precursor chemicals and will, according to the June 2019 Bankable Feasibility Study, generate around $5 billion in free cashﬂow over its first 30 years of production.
Advanced battery materials developer, Australian Mines Limited is pleased to advise it has entered into an agreement with Deakin University’s Institute for Frontier Materials on a project to use scandium to develop new aluminium alloys.
Advanced battery materials development company Australian Mines Limited advises that it has successfully received firm commitments to raise approximately A$5.2 million (before costs) in new equity via a fully committed share placement to institutional, sophisticated and professional investors.