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DNI Update - Documents Filed with ONE - Signs Updated Binding Agreement with Korea Graphite to Supply Up to 24,000 Tonnes of Graphite per Year Subject to Korea Graphite Finalizing Offtake Agreements with Korean End Users
DNI Update - Documents Filed with ONE - Signs Updated Binding Agreement with Korea Graphite to Supply Up to 24,000 Tonnes of Graphite per Year Subject to Korea Graphite Finalizing Offtake Agreements with Korean End Users.
About this update from Dni Metals Inc
[{"type":"text","content":"TORONTO, ON / ACCESSWIRE / November 21, 2018 / DNI Metals Inc. (CSE: DNI); (OTC PINK: DNMKF) ("DNI" or the "Company")Environmental LicensesDNI has properly filed the documents for its 100% owned Vohitsara and Marofody graphite properties. The documents were signed off by the Director General, "DG", of the Mines Ministry, on Friday November 16, 2018, and were filed with the Office National pour l'Environnement Madagascar, ("ONE"), yesterday. All fees were properly invoiced, and the fees were directly wired to the ONE on Monday November 19, 2018.As per DNI's press release dated November 8, 2018, a percentage of the capex for the projects must be paid to the ONE.DNI's new team was instrumental in successfully completing these tasks.Updated agreement in KoreaDNI has amended its binding supply letter agreement ("Binding Supply Agreement"), with Korea Graphite Co. Ltd ("Korea Graphite" or "KGL"), a 100% owned subsidiary of Peninsula Mines Ltd ("Peninsula", PSM), that includes a commitment by DNI to supply up to 24,000 tonnes per year of flake graphite to Korea Graphite, subject to Korea Graphite finalising offtake agreements with Korean end users by July 1, 2019.Peninsula's Managing Director and director of Korea Graphite, Jon Dugdale, said, "This amended flake-graphite supply agreement with DNI will assist the Company to secure offtake agreements with Korean flake-graphite end users and will compliment the Company's flake-graphite resource delineation and development plans in Korea.""Peninsula has established strong relationships with Korean end-users that are looking to secure flake-graphite supply for lithium-ion battery anode production as well as for cutting-edge new technologies such as expandable graphite, a non-flammable building cladding/insulation product."Madagascar has been producing high-purity, large-flake graphite for over 100 years and DNI's large-flake graphite deposits are saprolite hosted and close to port."The Binding Supply Agreement includes the following terms: Under the terms of the Supply Agreement DNI will supply to Korea Graphite minimum flake graphite production ("Graphite Production") as follows: 500 tonnes of Graphite Production a month from 1 July 2019 (the Due Date) for a minimum period of ...