Altech Batteries Ltd Stock Market Press Releases and Company Profile
Termination of Kaolin Rights Agreement
Termination of Kaolin Rights Agreement

Perth, Mar 9, 2016 AEST (ABN Newswire) - Altech Chemicals Limited (Altech/the Company) (googlechartASX:ATC) advises that it has terminated the agreement with Dana Shipping and Trading S.A. (Dana) to grant Dana the exclusive right to mine up to 10Mt of kaolin from the Company's Meckering kaolin deposit (Meckering Deposit).

Under the terms of the kaolin mineral rights agreement (refer ASX Announcement dated 30 October 2015), if the First Condition had not been satisfied by the First End Date, being 28 January 2016, then either party may terminate the Mining Rights Deed by notice to the other.

As the First Condition has not yet been satisfied, Altech has elected to terminate the Mining Rights Deed and to continue to be focussed on finalising the detailed design and securing funding for the construction of its High Purity Alumina (HPA) project.


About Altech Batteries Ltd

Altech Chemical Ltd ASX:ATCAltech Batteries Limited (ASX:ATC) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS ("Fraunhofer") to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns. 

The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech's land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.

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Contact

Corporate
Iggy Tan
Managing Director
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com

Martin Stein
Chief Financial Officer
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com



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