BMR:CC - Battery Mineral Resources Corp. Announces Agreement with Anglo-American PLC to Sell Slag Copper Concentrates Produced at the Punitaqui Plant
(NewsDirect)
Battery MineralResources Corp. ( TSXV: BMR ) ( OTCQB: BTRMF )(“ Battery ” or “ BMR ” or the “ Company ”)is very pleased to announce the execution of an Offtake Agreement (orthe “ Agreement ”) with Anglo American Sur. S.A.(“ Anglo ” or “ Anglo American ”) a division ofAnglo-American PLC.
Anglo’s Chagres smelter in Catemu, Chile has agreed to sellup to 240,000 Dry Metric Tonnes (“ DMT ”) of copper slags tobe processed into copper concentrates at BMR’s Punitaqui copperflotation plant. Anglo has agreed to purchase all the copperconcentrate to be produced from the supply of copper slags. The termsand conditions of the Agreement are benchmark for this type ofconcentrate. BMR anticipates the processing of copper slags willcommence within approximately 90 days, subject to completing certainplant maintenance and upgrade activities. The Agreement is in additionto the agreements previously entered into between the Company andJavelin Global Commodities (“ Javelin ”), as such agreementswere announced by the Company on February 12, 2024. Javelin shall notmarket the copper concentrates processed from copper slags and shallnot be paid any commission in respect thereof.
Battery CEO anddirector Martin Kostuik stated: “We are extremely pleased toannounce this agreement, which comes at a perfect time for BMR. TheAgreement provides the Company low-cost copper bearing material to beprocessed at our Punitaqui flotation plant while Battery beginscommissioning of the plant. It allows BMR to generate cash flow fromcopper sales while the Cinabrio, San Andres and Dalmacia mines will beramping up to reach full production.”
Furthermore, byallowing BMR to process slags, which are a by-product of previouslysmelted ores, the Agreement further demonstrates the Company’songoing commitment to the Environmental portion of its Environmental, Social and Governance (ESG) principals.Specifically, the processing of slags does not include activitieswhich would otherwise be undertaken by BMR when processing fresh orefrom its mines, including but not limited to underground drilling,blasting and mining.
BMR is pleased to have entered into an Agreement that is botheconomically and environmentally beneficial.
About BatteryMineral Resources Corp.
Battery Mineral Resources is a battery mineralscompany providing shareholders exposure to the global mega-trend ofelectrification while being focused on growth through cash-flow,exploration, and acquisitions in favourable mining jurisdictions.Battery Mineral’s mission is the discovery, acquisition, anddevelopment of battery metals (namely cobalt, lithium, graphite, andcopper), in North America, South America and South Korea and to becomea premier and responsible supplier of battery minerals to theelectrification marketplace. BMR is currently pursuing a near-termresumption of operations of the Punitaqui Mining Complex, a pastcopper-gold-silver producer, in the Coquimbo region of Chile. BMR isthe largest mineral claim holder in the historic GowgandaCobalt-Silver Camp in Ontario, Canada, and continues to pursue afocused program to build on the recently announced, +1-million-poundhigh-grade cobalt resource at McAra. In addition, Battery Mineral owns100% of ESI Energy Services, Inc. (including ESI’s wholly owned USAoperating subsidiary, Ozzie’s, Inc.), a profitable mainline pipelineand renewable energy equipment rental and sales company withoperations in Alberta, Canada and Arizona, USA. Battery MineralResources is based in Canada and its shares are listed on the TorontoVenture Exchange under the symbol “BMR” and on the OTCQB under thesymbol “BTRMF”. Further information about BMR and its projects canbe found on www.bmrcorp.com .
Twitter:
Facebook:
LinkedIn:
Website: www.bmrcorp.com
Neither the TSXV norits Regulation Services Provider (as that term is defined in thepolicies of the TSXV) accepts responsibility for the adequacy oraccuracy of this press release.
About Battery MineralResources Corp.
Forward LookingStatements:
This news release includes certain“forward-looking statements” under applicable Canadian securitieslegislation. There can be no assurance that such statements will proveto be accurate, and actual results and future events could differmaterially from those anticipated in such statements. Forward-lookingstatements reflect the beliefs, opinions and projections of theCompany on the date the statements are made and are based upon anumber of assumptions and estimates that, while considered reasonableby the Company, are inherently subject to significant business,economic, competitive, political and social uncertainties andcontingencies. Many factors, both known and unknown, could causeactual results, performance, or achievements to be materiallydifferent from the results, performance or achievements that are ormay be expressed or implied by such forward-looking statements and theparties have made assumptions and estimates based on or related tomany of these factors. Such factors include, without limitation, theability of the Company to obtain sufficient financing to completeexploration and development activities, the ability of the Company tosecure the Advances under the Loan Agreement, timing of the completionof the Company’s audit, risks related to share price and marketconditions, the inherent risks involved in the mining, exploration anddevelopment of mineral properties, the ability of the Company to meetits anticipated development schedule, government regulation andfluctuating metal prices. Accordingly, readers should not place unduereliance on forward-looking statements. Battery undertakes noobligation to update publicly or otherwise revise any forward-lookingstatements contained herein, whether as a result of new information orfuture events or otherwise, except as may be required bylaw.
Contact Details
Martin Kostuik, CEO
+1604-229-3830
CorporateCommunications
Corporate Communications IBN(InvestorBrandNetwork)
+1 310-299-1717
editor@investorbrandnetwork.com
CompanyWebsite
Copyright (c) 2024 TheNewswire - All rights reserved.