Quarterly Activities Report
Sydney, Jan 27, 2023 AEST (ABN Newswire) - Magnis Energy Technologies Ltd (ASX:MNS) (U1P:FRA) (MNSEF:OTCMKTS) is pleased to present its Quarterly Activities Report and overview of operations for the period ended 31st December 2022 ("Quarter", "Reporting Period").
- Magnis' Lithium-ion battery manufacturing facility operated by Imperium3 New York Inc ("iM3NY") completed internal qualification of its commercially produced cells.
- Progress made for planned US active anode material facility with orders placed for key demonstration plant equipment and appointment of commercial real estate advisor JLL to locate a suitable site
- Construction of the Eco-village as part of the Resettlement Action Plan for the Nachu Graphite Project in Tanzania was largely completed with resettlement to occur in the third quarter FY23
- Magnis' Corporate Social Responsibility programs continue to provide much needed infrastructure for the local community with running water provided to the homes in the village and solar powered street lighting throughout the village
- Financial and legal advisers with extensive transactional experience in the mining and metals industry in Africa appointed to assist with funding for the Nachu Graphite Project
- Continued negotiations on the framework agreement with the Government of Tanzania which is expected to be concluded during the third quarter FY23
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About Magnis Energy Technologies Limited
Magnis Energy Technologies Limited (ASX:MNS) (OTCMKTS:MNSEF) (FRA:U1P) is involved in and has strategic investments in several aspects of the electrification supply chain including manufacturing of green credentialed lithium-ion battery cells, leading edge battery technology and high quality, high performance anode materials. The company's vision is to enable, support and accelerate the green energy transition critical for the adoption of Electric Mobility and Renewable Energy Storage.
Magnis Energy Technologies Limited