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Australian Mines signs off-take deal with Korea's SK Innovation

Published 19/02/2018, 04:42 pm
Australian Mines signs off-take deal with Korea's SK Innovation
096770
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AUZ
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Feb 19 (Reuters) - Battery and technology metals developer Australian Mines Ltd AUZ.AX said on Monday it signed a deal with Korea's SK Innovation Co Ltd 096770.KS to supply cobalt sulphate and nickel sulphate from its flagship Sconi project.

The commodity off-take agreement, which is for an initial period of 7 years, is for SK Innovation's newly developed battery manufacturing plant in Hungary and Korea, the company said.

Australian Mines, which has been on a trading halt since last trading on Feb. 9, said the agreement included an option for SK Innovation to buy up to 19.9 percent of its ordinary shares.

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