Blackstone Minerals (ASX:BSX)
has signed a non-binding letter of interest with Trafigura for the potential supply of nickel and cobalt products.
Trafigura is one of the largest physical commodities trading groups in the world.
The talks are part of Blackstone’s strategy to upscale its downstream refining business through the staged construction of additional refining capacity, with additional downstream refining capacity needs to be met by materials sourced from third-parties.
Blackstone aims to become a significant global supplier of downstream nickel products for the lithium-ion battery industry.
Shares in Blackstone Minerals (ASX:BSX)
are trading almost 8 per cent higher at 48 cents.