Firebird Metals reveal feasibility outcomes during China visit
15.05.2024 | NewsDirect
Firebird Metals Ltd. (ASX:FRB) managing director Peter Allen sits down with Jonathan Jackson in the Proactive studio to discuss the company's visit to a large investor site visit in China, demonstrating significant progress and strategic advantages in the region. The primary focus was on Firebird's leading manganese sulphate team and their advancements in Jinshi, Hunan Province. Attendees toured the Pilot Plant and R&D centre for battery-grade manganese sulphate, the Jinshi Port and a proposed site for new processing facilities within the Jinshi High-Tech Industrial Park. Additionally, the visit included Canmax Technologies Co., Ltd's lithium hydroxide plant in Meishan, highlighting the project's strong local support and operational benefits in China. The company also revealed outcomes from a feasibility study conducted by Hunan Chemical Engineering Design Institute Co., Ltd., which supports Firebird's strategy to produce high-purity manganese sulphate. The study highlights the economic viability with low capital expenses of US$83.5 million and operational advantages due to local support and regulatory compliance. The planned plant has annual capacity for 50,000 tonnes of battery grade MnSO4 and 10,000 tonnes of Mn3O4. Significant progress has been made in areas such as equipment supplier due diligence, R&D and project permitting, aiming for completion by late Q3 2024. Additionally, Firebird is engaged in discussions with European customers and has initiated profit and capital repatriation processes supported by local authorities. Finally, the company has made further progress in the development of its Stage 1 Battery Grade Manganese Sulphate Plant in China, signing "critical" financing and construction agreements with the Jinshi Government, China Construction Bank (Jinshi division) and leading chemical engineering contractor China Chemical.Contact Details
Proactive Investors
Jonathan Jackson
+61 413 713 744
jonathan@proactiveinvestors.com
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