Blackstone Minerals Ltd (ASX:BSX, OTCQX:BLSTF) managing director Scott Williamson speak to Proactive's Thomas Warner about the company's ambitious plans for 2024.
Blackstone Minerals Ltd is focused on building an integrated battery metals processing business in Vietnam that produces nickel-cobalt-manganese precursor products for Asia’s growing lithium-ion battery industry. Williamson explains that Blackstone is looking to restart the Ta Khoa Nickel Project, Vietnam, a previously operating nickel sulfide mine, alongside constructing a refinery. This refinery is central to the project as it will produce chemical products for lithium-ion batteries, importing nickel feedstocks from Australia and Canada.
Highlighting the project's unique approach, Williamson explains that unlike many of their peers who produce nickel concentrate, their refinery will produce a precursor cathode active material (PCAM), essential for the first stage of lithium-ion batteries. This high-nickel cathode is vital for long-range electric vehicles and consists of a nickel, cobalt, and manganese ratio of around 8:1:1.
Blackstone Minerals is currently finalising the definitive feasibility study for the refinery. The company has conducted a 12-month pilot plant and extensive work on their flow sheet, using hydrometallurgy technology to produce a low carbon, green nickel product. This product has a significantly lower CO2 footprint compared to other sources, notably Indonesian nickel.
In terms of funding, Williamson mentioned that Blackstone is exploring partnerships, particularly with the battery industries in Japan, China, and Korea, while also undertaking a rights issue linked to a new acquisition, the Wabowden Project in Manitoba.
The Wabowden project, also a previously operating nickel mine, is part of a strategic plan to secure a stable nickel concentrate supply for the Vietnamese refinery. This project, along with the Buckeye mine, will contribute to a two-mine, one-refinery model, enhancing the company's ability to supply chemical products for its partners.
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