Australia-based EcoGraf (ASX:EGR) has entered a cooperation agreement with South Korea's POSCO International to develop a vertically integrated battery anode materials business.
The partnership will establish a supply chain for battery anode materials in Tanzania, with plans to develop graphite projects and supply unpurified spherical graphite for battery purification.
The partnership will leverage EcoGraf's proprietary graphite purification technology, including locating processing facilities near planned POSCO battery production developments.
The non-binding agreement also includes a 10-year term for the sale of EcoGraf's battery anode material products to POSCO.