Battery Mineral Resources (TSX.V: BMR) (OTCQB: BTRMF), a battery minerals company providing shareholders exposure to the global megatrend of electrification, and its Chilean subsidiary, Minera BMR SpA, have announced key agreements with Javelin Global Commodities. According to the announcement, the company entered into a marketing agreement, a master purchase and sale agreement, and a copper concentrate prepayment and advance payment terms arrangement with Javelin. The agreements outline plans for Javelin to market the copper concentrate, gold, silver and other metals produced at the Punitaqui Plant located at the Punitaqui Mining Complex based on a $5 million copper concentrate prepayment along with an advance payment term arrangement totaling up to $20 million. “The consummation of these agreements with Javelin marks a very critical step in terms of placing the Punitaqui Mine into operational readiness and first concentrate production,” said Battery Mineral Resources CEO Martin Kostuik in the press release. “We welcome Javelin as a partner and look forward to leveraging their marketing prowess to maximize the value that the sale of copper concentrates will bring to BMR shareholders.”
BMR also announced the execution of an offtake agreement with Anglo American Sur. S.A., a division of Anglo-American PLC. According to the announcement, Anglo’s Chagres smelter in Chile has agreed to sell up to 240,000 dry metric tonnes of copper slags that will be processed into copper concentrates at BMR’s Punitaqui copper flotation plant. In addition, Anglo agreed to purchase all the copper concentrate produced from the copper slag supply. BMR plans to start the processing process in the next three months, subject to completing plant maintenance and upgrade activities. “We are extremely pleased to announce this agreement, which comes at a perfect time for BMR,” said Kostuik in the press release. “The agreement provides the company low-cost copper bearing material to be processed at our Punitaqui flotation plant while Battery begins commissioning of the plant. It allows BMR to generate cash flow from copper sales while the Cinabrio, San Andres and Dalmacia mines will be ramping up to reach full production.”
About Battery Mineral Resources Corp.
Battery Mineral Resources is a battery minerals company providing shareholders exposure to the global megatrend of electrification while being focused on growth through cash flow, exploration and acquisitions in favorable mining jurisdictions. Battery Mineral’s mission is the discovery, acquisition and development of battery metals (namely cobalt, lithium, graphite and copper) in North America, South America and South Korea, and to become a premier and responsible supplier of battery minerals to the electrification marketplace. BMR is currently pursuing a near-term resumption of operations of the Punitaqui Mining Complex, a past copper-gold producer in the Coquimbo region of Chile. BMR is the largest mineral claim holder in the historic Gowganda Cobalt-Silver Camp in Ontario, Canada, and continues to pursue a focused program to build on the recently announced, 1-million-pound-plus high-grade cobalt resource at McAra. In addition, Battery Mineral owns 100% of ESI Energy Services Inc., a profitable mainline pipeline and renewable energy equipment rental and sales company with operations in Alberta, Canada, and the state of Arizona. For more information about the company, visit www.BMRCorp.com.
NOTE TO INVESTORS: The latest news and updates relating to BTRMF are available in the company’s newsroom at https://ibn.fm/BTRMF
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