Cape Flattery-Eternal Asia MoU to test high purity silica sand
Cape Flattery Silica Pty Ltd (CFS) has signed a Memorandum of Understanding (MoU) with Eternal Asia Supply Chain Management Ltd (EA) for the testing of processed high purity silica sand from the CFS project.
The MoU between the Metallica Minerals Limited (ASX: MLM) wholly-owned subsidiary and the Shenzhen Investment Holdings Co Ltd subsidiary will also assess its suitability for further processing and value adding using EA’s propriety technology.
Metallica executive chairman Theo Psaros says the MoU with Eternal Asia is a great outcome for both parties.
“For CFS is provides an opportunity to move out already high purity silica sand into a non-glass market segment with a higher value, through further processing using EA’s technology,” he said.
“For EA they obtain a secure supply of high purity silica sand, once our project is in production.
“We look forward to working with EA in this new strategic partnership for mutual benefit.”
Pending the successful outcome of the cooperation, commercial discussions will commence on a long-term sales contract.
One of EA’s goals is to strengthen the industrial chain by focusing on new energy raw materials and industrial raw materials.
The MoU with CFS fits into this strategic initiative.
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