Summary
· This comes after Tesla signed a deal with a vertically integrated lithium-ion battery company, Magnis Energy Technologies Limited, and its Tanzanian subsidiaries Uranex Tanzania Limited (Uranex) and Magnis Technologies Tanzania Limited (MTT)
Dar es Salaam. Tesla, the American multinational automotive, artificial intelligence and clean energy company, has signed an agreement under
which it will purchase Anode Active Material (AAM) from Tanzania.An AAM is the active material in
negative electrodes.
This comes after Tesla signed a deal
with a vertically integrated lithium-ion battery company, Magnis Energy
Technologies Limited, and its Tanzanian subsidiaries Uranex Tanzania Limited
(Uranex) and Magnis Technologies Tanzania Limited (MTT).
Magnis Energy Technologies Limited,
which is listed on the Australian Securities Exchange, owns Uranex and MTT by
100 percent.
Uranex said in a statement yesterday
that under the agreement worth an undisclosed amount, Tesla has agreed to
purchase from Magnis Energy Technologies between 17,500 tonnes and 35,000
tonnes per annum of Anode Active Material (AAM) from February 2025 for three years.
Magnis Energy is developing a
graphite mine in Tanzania where it plans to get “ultra-high purity natural
flake graphite” from the operation.
“The deal arrives at a critical
juncture for both companies. Tanzania as a country is set to benefit tremendously
in terms of technology transfer, employment, among other aspects,” Uranex said.
Uranex is a subsidiary company fully
owned by Magnis Energy Technologies Ltd of Australia and its Nachu Graphite
Project is a renowned world-class graphite resource. Nachu Graphite Project is
located near Ruangwa, in Lindi, Tanzania.
Along with its graphite mining
project in Tanzania, the company is part of the Imperium3 New York consortium
of companies working to build a lithium-ion battery cell gigafactory in New
York.
Furthermore, Magnis is also a
shareholder and partner with C4V, a New York-based battery cell technology
company.
Thus, the battery projects could
prove useful to Tesla as the automaker is looking to secure a large number of
battery cells in order to support its plan to build 20 million electric
vehicles per year by 2030.
In Tanzania, Uranex holds a Special
Mining License No. 550/2015 under the jurisdiction of the Ministry of Minerals.
Besides, Magnis through MTT, was
granted a licence to operate within a Special Economic Zone (SEZ) in Tanzania
for a duration of ten (10) years which was renewed in May 2021.
According to the statement, the deal
with Tesla entails purchase of fully processed graphite and spheronised
graphite.
It states that in Tanzania, Uranex
will oversee the Nachu Mining Project of high-quality natural flake graphite
concentrate.
“The graphite resource at Nachu is
composed of natural flakes of various dimensions and its purification will not
involve chemical processing hence it will be an environmentally friendly
processing mechanism,” the statement reads.
Through the strategic partnership,
Tanzania gets a symbolic opportunity to cooperate with an iconic global player
in sustainable energy.
“Through the Nachu Graphite Project,
Tanzania will in turn be a leading contender in the global push for moving
towards use of greener and sustainable renewable energy,” the statement says.
With the world-class
facilities/infrastructure planned in the Special Economic Zone, Tanzania also
gets the chance assurance of accelerating its long term ambitions of being home
to the latest industrial technologies.
“Magnis guarantees to improve the
livelihoods of Tanzanians by providing high quality jobs to the nationals and
ensure contribution towards the country’s economic growth,” the statement says.
It says the operating philosophy of
Magnis in Tanzania is to ensure that growth of the Company is matched with the
developmental goals of the society surrounding its Projects, including Nachu
Graphite Project.
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