Company News Summary
Magnis Resources Announces Project Financing and Offtake MOU Signed with ROSATOM
Original announcement: Project Financing and Offtake MOU Signed with ROSATOM
Magnis Resources announced that another key milestone in the development of its Nachu Graphite Project in Tanzania with the signing of a Memorandum of Understanding (MOU) with Russia's ROSATOM International Network (ROSATOM) for project financing and offtake of Super Jumbo and Jumbo flake graphite. This MOU is a significant development for the Company and positions the Company alongside a highly-regarded group that is a world leader in the construction and operating of nuclear reactors with flake graphite being a key material used in nuclear reactors. Under the agreement, both organisations will work together towards a binding offtake agreement once further negotiations take place and certain milestones are met.
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