Firebird Metals (ASX:FRB) has signed a non-binding memorandum of understanding with French miner, Eramet, for the supply of manganese ore for stage one of operations at its manganese sulphate and manganese tetra-oxide plant in China, the company said in a Monday Australian bourse filing.
Under the agreement, the companies will work to convert the MoU into a long-term supply agreement by 2026, following the completion of financing and during the construction of the proposed facility, added the filing.
The agreement follows the successful testing of a 200-kilogram sample of Eramet ore which produced battery-grade manganese sulfate monohydrate and manganese tetraoxide, per the filing.
Stage one of operations aims to produce 50,000 tonnes per annum of battery-grade manganese sulfate and 10,000 tonnes per annum of manganese tetra-oxide utilizing third-party ore. The agreement specifies an annual supply of 80,000 tonnes, with 20,000 tonnes delivered quarterly, the filing added.
Company shares slid 2% in recent trade.
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