Update Bulk Kaolin Mining Option
Perth, Oct 16, 2015 AEST (ABN Newswire) - Altech Chemicals Limited (Altech/the Company) (ASX:ATC) advises that the extension of the Dana Shipping and Trading S.A. (Dana) bulk kaolin option exercise period announced on 1 October 2015 has now lapsed.
Altech and Dana are however continuing negotiations for the mining of bulk kaolin by Dana from the Meckering Deposit.
An update on the negotiations will be provided, once finalized.
About Altech Batteries Ltd
Altech Batteries Limited (ASX:ATC) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS ("Fraunhofer") to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.
The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech's land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.
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