Northern Territory Government extends MOU with Avenira and Aleees

The MOU allows the three parties to work together towards the development of a LFP battery cathode manufacturing facility.
The MOU allows the three parties to work together towards the development of a LFP battery cathode manufacturing facility.

The memorandum of understanding (MOU) between the Northern Territory Government, Avenira (ASX: AEV) and Advanced Lithium Electrochemistry (Aleees) has been extended to June 30, 2025.

Initially executed in September 2022, an MOU was signed between the three parties to work towards the development of a lithium iron phosphate (LFP) battery cathode manufacturing facility.

The Northern Territory Government would assist and advise in relation to necessary infrastructure, including water, energy, power, telecommunications, road, port, rail access and service requirements.

A bankable feasibility study is expected to be completed in December 2024, a revised project proponent proposal will be submitted in March 2025 and an interim agreement for plant site allocation will be executed in June 2025.

Following the completion of a positive scoping study which demonstrated strong economic and technical viability of the LFP battery manufacturing project, Avenira is continuing to pursue the project.

Avenira chairman and chief executive Brett Clark commented on the extension.

“The MOU extension further demonstrates the continuing support of the Northern Territory Government and Aleees with this significant LFP cathode project in Darwin.

The extension allows the Northern Territory Government to continue providing support to Avenira and Aleees through to the completion of the next stage studies.