POSCO-Renascor MOU on purified spherical graphite
Renascor Resources (ASX: RNU) has entered into a memorandum of understanding (MOU) to supply up to 30ktpa of purified spherical graphite (PSG) to South Korean conglomerate POSCO. The non-binding MOU provides for the purchase of 20,000-30,000tpa of PSG from Renascor’s planned battery anode material operation in South Australia and for a potential equity investment by POSCO. With the MOU with POSCO, Renascor has now executed and announced offtake MOUs covering up to 60,000tpa of PSG, including the MOU with POSCO. Renascor Resources managing director David Christensen says the company is delighted to be working with this world leader in the supply of lithium-ion battery materials. “The significant offtake requirements from POSCO represent a transformation step change for Renascor, as the...