FS confirms expansion to provide secure, sustainable and economic supply of nickel for Blackstone to produce NCM Precursor for the Lithium-ion battery industry

Blackstone Minerals Limited (“Blackstone” or the “Company”) is pleased to announce completion of the Prefeasibility Study (PFS) for its 90% owned Ta Khoa Nickel Project (TKNP) in northern Vietnam.

Under the PFS, the TKNP has been optimised to generate maximum value for the Company’s overall development strategy. As such, the outcomes of the TKNP PFS have been integrated into Blackstone’s overall business development plan to produce Nickel: Cobalt: Manganese (NCM) 811 Precursor products. (refer Table 1). The TKNP and Ta Khoa Refinery Project (TKR) are collectively referred to as the Ta Khoa Project.

The Ta Khoa Project represents an innovative and globally significant vertically integrated business strategy to deliver battery grade NCM Precursor products into the burgeoning lithium-ion battery industry. It has the potential to transform Vietnam’s role in the movement towards the electrification of transportation and will generate significant socio-economic benefits for the communities in which we operate.

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