Altech Batteries Ltd Stock Market Press Releases and Company Profile
Option Exercised for Purchase of Meckering Land
Option Exercised for Purchase of Meckering Land

Perth, Oct 17, 2017 AEST (ABN Newswire) - Altech Chemicals Limited (Altech/the Company) (googlechartASX:ATC) (googlechartA3Y:FRA) is pleased to announce that it has exercised its option to purchase the ~94 hectares of land at Meckering, Western Australia within which its granted and fully permitted kaolin mining lease M70/1334 lies.

Highlights

- Option to purchase Meckering freehold land over mining lease M70/1334 exercised

- Construction of Meckering kaolin mine and kaolin screening and loading facility fully permitted

M70/1334 was granted on 19 May 2016 and contains an estimated kaolin mineral resource of 12.7 million tonnes at 29.5% Al2O3, including an estimated kaolin ore reserve of 1.224 million tonnes at 30% Al2O3. (refer Table 1 in link below)

Kaolin ore from M70/1334 will provide feedstock for the Company's proposed Malaysian high purity alumina (HPA) plant. At Meckering, the Company is planning to mine approximately 140,000 tonnes of kaolin in twomonth mining campaigns, once every three years. The alumina rich mined kaolin will be initially stockpiled, then loaded into standard 20ft shipping containers at the rate of approximately 43,500tpa for transport by road to the port of Fremantle, Western Australia then shipped weekly to Malaysia.

Altech's mining proposal and mine closure plan for M70/1334 was approved in March 2017. A works approval for construction of the kaolin screening and loading facility was granted in August 2017. Altech's Meckering mine is now fully permitted, with construction of the kaolin screening and loading facility able to proceed, subject to finance.

Managing director Mr Iggy Tan said, "the exercise of Altech's option to purchase the land over mining lease M70/1334 is another important milestone in advancing our HPA project; Meckering is now fully permitted for construction. Development of the kaolin screening and loading facility then initial mining can proceed upon finalising of project finance."

To view tables, please visit:
http://abnnewswire.net/lnk/MK92754N


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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