National Industrial Development Centre and EV Metals Group sign a Memorandum of Understanding for Battery Chemicals Complex in KSA
RIYADH, 22 December 2020: The National Industrial Development Centre (NIDC) and EV Metals Group plc (EVM) today signed a non-binding Memorandum of Understanding (MoU) for the development of a Battery Chemicals Complex and a Saudi supply chain in the Kingdom of Saudi Arabia.
The MoU was executed at a signing ceremony attended by His Excellency, the Vice Minister for Industry and Mineral Resources, Osama A. Al Zamil, His Excellency, the Vice Minister for Mining Affairs, Khalid Al Mudaifer, the CEO of NIDC, Eng. Nizar Y. Al-Hariri, the Vice President of Minerals and Metals of NIDC, Eng. Matar Al-Harthi, the Director of Minerals and Metals of NIDC, Eng. Mahmoud Al-Asmari and the Chairman of EVM, Eng. Abdullah S. Busfar and other directors including Mr Mohammed Bajba, Mr Khalid Hashim, Mr Abdulrahman al Alesayi, Mr Othman Al Amoudi and Managing Director Mr Michael Naylor.
The Battery Chemicals Complex will produce high purity chemicals containing lithium, nickel, cobalt, manganese and other metals required for cathode active materials in rechargeable lithium-ion batteries for electric vehicles and stationary storage facilities for renewable
energy.
It will be developed in stages with a lithium chemicals plant to produce lithium hydroxide, a nickel chemicals plant to produce nickel, cobalt and manganese sulphate and a pre-cathode active materials plant in one location.
The MOU provides for up-stream integration through the development of a Saudi supply chain by exploration for and mining and processing of economic deposits of mineral resources containing critical raw materials such as lithium, nickel, cobalt, manganese and other metals for downstream processing at the Battery Chemicals Complex in KSA.
The Battery Chemicals Complex will initially acquire intermediate feedstock such as spodumene concentrate containing lithium from established producers with transparent and ethical supply chains such as those in Western Australia, the world’s largest producer.
Eng. Nizar Y. Jamal Al-Hariri, Chief Executive Officer of NIDC, comments, “A Battery Chemicals Complex provides the impetus for the development of the Saudi supply chain for critical raw materials for high purity battery chemicals in the Kingdom. We look forward to collaborating with EVM to formulate and implement proposals to fast rack those strategic developments within the framework of Vision 2030.”
Eng. Abdullah Busfar Chairman of EVM comments, “The Battery Chemicals Complex will be a global first for Saudi Arabia. We will bring world class technical capabilities, know-how and technology in exploration, mining and processing from our operating subsidiary in Western
Australia to fast track the development of the Battery Chemicals Complex and the Saudi supply chain to attract foreign direct investment in the minerals and metals sector.”
About NIDC
The National Industrial Development Centre (NIDC) is the specialized industrial investment attraction & industrial development organization at the center of the transformation of Saudi Arabia’s industrial sector, creating new industries to diversify the economy and meet vision
2030 ambitions.
The mission of NIDC is to facilitate the growth and diversification of the Kingdom’s manufacturing and industrial base by, among other activities, fostering partnerships between local Kingdom entities and international manufacturers to grow and diversify the Saudi Arabian economy.
About EV Metals Group
EV Metals Group plc (EVM) is building a global battery chemicals and technology business. EVM is focused on the development of a Battery Chemicals Complex for the production of high purity chemicals containing lithium, nickel, cobalt, manganese and other metals required for cathode active materials in re-chargeable lithium-ion batteries for electric vehicles and stationary storage facilities for renewable energy.
The Battery Chemicals Complex includes the upstream integration of the supply chain through the mining and processing the Range Well Nickel Cobalt Resources owned by EVM to produce mixed hydroxide precipitate containing nickel, cobalt and manganese (MHP) at an MHP Plant in the Mid West Region of Western Australia for downstream processing at the Battery
Chemicals Complex until the commencement of production from the Saudi supply chain.
EVM has offices in KSA, Australia and the UK. For further information please visit www.evmetalsgroup.com.
For media enquiries
Hannah Newberry, Communications and Media Manager:
E hannah.newberry@evmetalsgroup.com