MinRes makes McIntosh JV official

A DAY after its first cargo of iron ore chugged from the recently-acquired and restarted Koolyanobbing mine in Western Australia’s Yilgarn, Mineral Resources has also formalised terms of its investment in Hexagon Resources’ McIntosh graphite project in the state’s north, several months later than expected.

MinRes makes McIntosh JV official MinRes makes McIntosh JV official MinRes makes McIntosh JV official MinRes makes McIntosh JV official MinRes makes McIntosh JV official

Hexagon is keen to get into the graphite market.

First flagged in March, the final agreement essentially reflects the original heads of agreement with plans to step through a number of stages to derisk McIntosh and potentially get the operation into production before the end of 2021 - but with some changes to the marketing of the final product.
 
Hexagon and MinRes will no longer establish a special purpose company for the joint marketing of graphite concentrates, but will negotiate a joint graphite concentrate marketing framework agreement to achieve the same common branding, marketing collaboration and non-compete outcomes originally envisaged - but "without the administration issues", Hexagon said this morning.
 
Hexagon is "pursuing its own path" by pursing downstream ...

topics

loader