24 C
Brunei
Tuesday, August 9, 2022
24 C
Brunei
Tuesday, August 9, 2022
More
    - Advertisement -
    - Advertisement -

    Aussie firm plans MYR1B plant in Sarawak

    ANN/THE STAR – Australia-based Element 25 Pte Ltd is planning a major investment in a manufacturing plant in Sarawak to produce high purity manganese sulphate (HPMSM) for lithium-ion batteries used by electric vehicles (EVs).

    HPMSM is the highest purity “battery grade” manganese chemical used in lithium-ion batteries.

    Element 25, listed on the Australian Securities Exchange, has proposed to invest AUD300 million to AUD400 million (MYR904 million to MYR1.21 billion) in the project.

    The company’s top executives presented the proposal to Sarawak Deputy Premier and Minister of International Trade and Investment Datuk Amar Awang Tengah Ali Hasan and his delegation at a recent roundtable networking session with Australia Malaysia Business Chamber Western Australia in Perth.

    During the meeting, Element 25 briefed the Sarawak delegation on the proposed investment in the manufacturing plant.

    Element 25 Managing Director Justin Brown and Development Manager Neil Graham had met Awang Tengah in May to express the company’s interest to invest in the HPMSM manufacturing project.

    The company has then proposed to undertake a feasibility study for the project as it noted that Sarawak is interested in EVs and already has a copper foil producer in Kuching. Element 25 is the operator of the Butcherbird manganese project, which hosts a resource of over 263 tonnes of manganese ore.

    The company recorded its first commercial shipment of manganese concentrate in July 2021, according to the company’s 2021 annual report.

    Sarawak Deputy Premier and Minister of International Trade and Investment Datuk Amar Awang Tengah Ali Hasan.
    PHOTO: THE STAR
    - Advertisement -
    spot_img

    Latest article

    - Advertisement -
    spot_img