On Thursday, Australian graphite explorer EcoGraf Ltd stated, it has signed an agreement with German industrial conglomerate Thyssenkrupp AG for the supply of graphite products that are used in making batteries.
EcoGraf’s supply agreement is with Thyssenkrupp Materials Trading GmbH, a unit of Thyssenkrupp AG.
In a statement EcoGraf said, Thyssenkrupp Materials Trading GmbH would purchase purified spherical graphite battery anode material, that are typically used in lithium ion batteries, from its Kwinana plant in Western Australia.
EcoGraf did not disclose the value of the deal.
The deal comes in the wake of demand for green energy continuing to surge, with countries taking steps to ensure that supply chains for battery minerals remain intact. To this end, the U.S. State Department hopes to expand its strategic minerals initiative, said a top diplomat.
EcoGraf also mentioned that the proposed battery graphite purification plant in Kwinana would be the first of its kind facility outside China. The agreement is also supportive of Australia’s domestic drive to produce battery mineral internally.
Australia is also a part of the Energy Resource Governance Initiative, a group of countries trying to develop battery and other high-tech metal production and reduce the world’s dependence on China.