Urbix Resources has announced that it has signed an MoU with Perth, Australia-based Bass Minerals.
Urbix Resources’ President and Chairman Nico Cuevas.
Phoenix, Arizona, October 8, 2019 — FOR IMMEDIATE RELEASE: Urbix Resources has announced that it has signed a Memorandum of Understanding (MoU) with Perth, Australia-based Bass Minerals (ASX–BSO, BSMO).
The MOU deals specifically with the intention of the two companies to work together to establish a Joint Venture for the purification of the high grade, large flake graphite Bass is producing at their Graphmada mine in Madagascar.
Over the next half year, Bass and Urbix will look carefully at establishing a joint venture facility in Madagascar to produce a purified high value graphite product utilizing Urbix’s propriety technology and Bass’ Graphmada large flake graphite.
The proposed Joint Venture will combine Urbix’s expertise in the development of advanced and sustainable downstream Graphite products with Bass’ large flake graphite resources, producer status, technical knowledge, government and sales relationships.
Urbix’s proprietary advanced technology includes environmentally and cost-conscious purification methods that are not reliant on environmentally unsustainable Hydrofluoric acid treatments or high temperature ovens.
In an announcement released a few days ago, Bass said they were “pleased to have reached an MoU with Urbix, a global leader in the production of downstream graphite products. Bass and Urbix will now work together over the next 180 days to identify the optimum Joint Venture structure and product mix with a view to then moving to establish a production facility in Madagascar.”
Urbix already has strong relationships in Australia and Southeast Africa. In 2018, Urbix signed a service agreement with Battery Minerals (ASX-BAT) that outlines, among other things, purification of graphite from BAT’s mines in Mozambique.
“We are pleased to have such strong relationships in Southeast Africa,” says Urbix Chairman, Nico Cuevas. “The graphite from that region is among the best in the world.”
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