Magnis to supply graphite to proposed Queensland lithium-ion facility

Graphite developer Magnis Resources, as part of a global consortium led by Boston Energy and Innovation (BEI), has signed a memorandum of understanding (MoU) with Townsville City Council to investigate building a lithium-ion battery manufacturing plant in the Queensland city.

Under the MoU, Magnis would own a share in the 15GWh plant and provide anode materials and technologies using graphite mined by the company.

Sydney-based Magnis is developing opportunities for the mining of natural flake graphite for use in various industries, including storing electrical energy and batteries. The company’s key asset is the Nachu graphite project in southeast Tanzania.

It is estimated the manufacturing facility could produce either 250,000 car batteries a year, one million home battery units or support 300 microgrids to power small towns once it is operational.

The project is also forecast to provide up to 1000 direct jobs in the manufacturing facility and an additional 1000 jobs in businesses supporting the development.

According to BEI, the consortium is committed to transferring Australia’s energy security by pledging the new batteries will be cost competitive, better performing, a sustainable supply chain, environmentally friendly and an alternative to current major energy suppliers.

BEI director Corey Cooney commented: “The construction of a 15GWh manufacturing plant has the ability to create and underpin the manufacturing industries of the future.”

The consortium is chaired by Australian businessman Bill Moss and includes Eastman Kodak, and lithium-ion battery companies C4V and C&D Assembly.

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