Eurasian Resources Group inks MoU to supply cobalt to Japanese market

Eurasian Resources Group has signed a MoU with Mechema Chemicals International Corp, a battery raw material producer headquartered in Taiwan, and Marubeni Corporation, a major integrated trading and investment business conglomerate headquartered in Japan, to explore a potential transaction involving the supply and refining of cobalt hydroxide, and the sale, distribution and marketing of cobalt sulphate.

Under the MoU, Eurasian Resources Group, Mechema and Marubeni will study potential cooperation to develop alternative cobalt supply chain for Japanese market. Specifically, Mechema will conduct a feasibility study into the construction of a new cobalt refining plant, supplied by cobalt hydroxide produced by Eurasian Resources Group, while Marubeni will study ability to place produced cobalt sulfate into Japanese market.

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