Battery Mineral Resources Corp. Announces Agreement with Anglo-American PLC to Sell Slag Copper Concentrates Produced at the Punitaqui Plant Strategic Agreement Expected to Provide Additional Cash Flows from Punitaqui, and Supports the Company’s ESG Efforts
Vancouver, British Columbia
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February 13, 2024 05:30 AM Pacific Standard Time
Battery Mineral Resources Corp. (TSXV: BMR) (OTCQB: BTRMF) (“Battery” or “BMR” or the “Company”) is very pleased to announce the execution of an Offtake Agreement (or the “Agreement”) with Anglo American Sur. S.A. (“Anglo” or “Anglo American”) a division of Anglo-American PLC.
Anglo’s Chagres smelter in Catemu, Chile has agreed to sell up to 240,000 Dry Metric Tonnes (“DMT”) of copper slags to be processed into copper concentrates at BMR’s Punitaqui copper flotation plant. Anglo has agreed to purchase all the copper concentrate to be produced from the supply of copper slags. The terms and conditions of the Agreement are benchmark for this type of concentrate. BMR anticipates the processing of copper slags will commence within approximately 90 days, subject to completing certain plant maintenance and upgrade activities. The Agreement is in addition to the agreements previously entered into between the Company and Javelin Global Commodities (“Javelin”), as such agreements were announced by the Company on February 12, 2024. Javelin shall not market the copper concentrates processed from copper slags and shall not be paid any commission in respect thereof.
Battery CEO and director Martin Kostuik stated: “We are extremely pleased to announce this agreement, which comes at a perfect time for BMR. The Agreement provides the Company low-cost copper bearing material to be processed at our Punitaqui flotation plant while Battery begins commissioning of the plant. It allows BMR to generate cash flow from copper sales while the Cinabrio, San Andres and Dalmacia mines will be ramping up to reach full production.”
Furthermore, by allowing BMR to process slags, which are a by-product of previously smelted ores, the Agreement further demonstrates the Company’s ongoing commitment to the Environmental portion of its Environmental, Social and Governance (ESG) principals. Specifically, the processing of slags does not include activities which would otherwise be undertaken by BMR when processing fresh ore from its mines, including but not limited to underground drilling, blasting and mining.
BMR is pleased to have entered into an Agreement that is both economically and environmentally beneficial.
About Battery Mineral Resources Corp.
Battery Mineral Resources is a battery minerals company providing shareholders exposure to the global mega-trend of electrification while being focused on growth through cash-flow, exploration, and acquisitions in favourable mining jurisdictions. Battery Mineral’s mission is the discovery, acquisition, and development of battery metals (namely cobalt, lithium, graphite, and copper), in North America, South America and South Korea and to become a premier and responsible supplier of battery minerals to the electrification marketplace. BMR is currently pursuing a near-term resumption of operations of the Punitaqui Mining Complex, a past copper-gold-silver producer, in the Coquimbo region of Chile. BMR is the largest mineral claim holder in the historic Gowganda Cobalt-Silver Camp in Ontario, Canada, and continues to pursue a focused program to build on the recently announced, +1-million-pound high-grade cobalt resource at McAra. In addition, Battery Mineral owns 100% of ESI Energy Services, Inc. (including ESI’s wholly owned USA operating subsidiary, Ozzie’s, Inc.), a profitable mainline pipeline and renewable energy equipment rental and sales company with operations in Alberta, Canada and Arizona, USA. Battery Mineral Resources is based in Canada and its shares are listed on the Toronto Venture Exchange under the symbol “BMR” and on the OTCQB under the symbol “BTRMF”. Further information about BMR and its projects can be found on www.bmrcorp.com.
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About Battery Mineral Resources Corp.
Forward Looking Statements:
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections of the Company on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability of the Company to obtain sufficient financing to complete exploration and development activities, the ability of the Company to secure the Advances under the Loan Agreement, timing of the completion of the Company’s audit, risks related to share price and market conditions, the inherent risks involved in the mining, exploration and development of mineral properties, the ability of the Company to meet its anticipated development schedule, government regulation and fluctuating metal prices. Accordingly, readers should not place undue reliance on forward-looking statements. Battery undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein, whether as a result of new information or future events or otherwise, except as may be required by law.
Contact Details
Martin Kostuik, CEO
+1 604-229-3830
Corporate Communications
Corporate Communications IBN (InvestorBrandNetwork)
+1 310-299-1717
editor@investorbrandnetwork.com
Company Website
