Business
MOU with ECOBAT'S Resources Freiberg (ERF)
MOU with ECOBAT'S Resources Freiberg (ERF).
About this update from First Tin Plc
[{"type":"text","content":"\n \n \n \n 09 June 2022\n \n \n \n \n \n \n \n \n \n First Tin Plc\n \n \n \n \n (\"First Tin\" or \"the Company\")\n \n \n \n \n MOU with ECOBAT'S Resources Freiberg (ERF)\n \n \n \n First Tin, a tin development company with advanced, low capex projects in Germany and Australia, is pleased to\n announce the signing of a non-binding Memorandum of Understanding (\"MOU\")\n with ERF, a market leader in the collection, recycling, production, and distribution of resources for battery systems. The MOU is in relation to its 100% owned Tellerhäuser Project in Germany and Taronga Project in Australia, with the intention of jointly establishing a fully integrated 'mine to metal' value chain in Germany.\n \n \n \n Overview:\n \n \n \n \n \n \n \n \n ·\n Together, both parties are focused on reintroducing primary tin production, smelting, and refining in Germany\n \n \n \n \n \n ·\n The MOU is in line with the Company's strategy to provide a fully traceable, ESG compliant supply of tin to Germany and the EU from conflict-free locations\n \n \n \n \n \n ·\n Over the next 18 months First Tin's German subsidiary Saxore Bergbau GmbH will jointly develop and execute a concept study and a feasibility study relating to a metallurgical project from primary and secondary raw materials. Under the premise that the study demonstrates viability, both parties aim to conduct basic and detailed engineering in 2023\n \n \n \n \n \n ·\n The potential partnership will contribute to reducing the pressure within Europe for this critical raw material during a global tin supply shortage\n \n \n \n \n \n \n \n \n Thomas Buenger, Chief Executive Officer, commented:\n \n \n \n \n \"Our Tellerhäuser and Taronga Projects have exciting near term production potential, and this agreement represents a positive step towards commercialising our strategically located assets. ERF has the potential to become an offtake partner to First Tin and together, we have an opportunity to establish the first fully integrated 'mine to metal' value chain in Germany and Saxony. This is in line with our mission to supply a sustainable answer to the global supply shortage that many industrial users of tin are currently facing.\n \n \n \n \n \n \n \n \n \n \"Following the successful completion of our feasibility study, we hope t...