Mineral exploration company, Birimian Ltd
(ASX:BGS) has signed a Memorandum of Understanding with a large Chinese lithium battery manufacturer.
Birimian and Far East First New Energy Co (New Energy) will work together in regards to mine development and potential financing – starting with an offtake for up to 200,000 tonnes per annum, or 25% of total annual production plus 6% spodumene concentrate (whichever is lower).
New Energy is a subsidiary of Hong Kong listed company, Far East Smarter Energy Co Ltd, which has a market capitalisation of $3.6 billion.
Birimian reported a net loss of $1.15 million at 30 June 2016.
