13/10/2021 - 16:00

Poseidon in nickel supply discussions

13/10/2021 - 16:00

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Poseidon Nickel is in discussions with a battery technologies business to supply nickel to its proposed refinery in Kalgoorlie.

Poseidon's Black Swan nickel operation in Western Australia. Photo: Poseidon Nickel

Poseidon Nickel is in discussions with a battery technologies business to supply nickel to its proposed refinery in Kalgoorlie.

The company has entered into a memorandum of understanding (MoU) with Brisbane-headquartered Pure Battery Technologies (PBT), whose proposed hub is expected to deliver 50,000 tonnes of battery material each year, ahead of a planned expansion.

Poseidon will assess the suitability of concentrate from its Black Swan and Lake Johnston mines as feed to the refinery.

Managing director Peter Harold said the agreement could increase revenue from the company’s nickel sales and improve its project margins.

“We look forward to working with PBT to determine if our potential concentrate production could be feed for PBT’s proposed refinery, should we decide to proceed with the development of our projects,” he said. 

The MoU is not binding until both companies enter into a definitive agreement.

Poseidon closed up 5 per cent on Wednesday to trade at 10 cents a share.

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