Australian Mines Ltd., Brisbane, Australia, (AUZ) has started producing cathode precursor materials for nickel-cobalt-manganese (NCM) batteries, The Market Herald reports.
NCMs are widely used in the electric vehicle industry and are utilized in major automotive brands such as BMW, Audi and Volkswagen.
As a result, Australian Mines’ ability to produce NCM cathode precursor materials is an important step for the company in adding extra value for shareholders by operating in the electric vehicle market.
It already has the potential to become a globally significant metals supplier by producing battery ready cobalt sulphate and nickel sulphate from its Sconi project in Queensland.
“Australian Mines aims to be a vertically integrated advanced battery materials developer. We will mine and process ore to deliver high purity technology metals to the fast-growing electric vehicle and storage industries,” Managing Director Benjamin Bell said.
“This activity also benefits our wider group of stakeholders by providing higher-skilled jobs for the local communities where we operate and helping to position Australia as a leading supplier to the electric vehicle revolution,” he added.
