ChemX Materials Ltd. announced it has signed a Memorandum of Understanding (MOU) with Pure Battery Technologies (PBT) which could lead to ChemX supplying suitable manganese to PBT's proposed battery material refinery hub in Kalgoorlie, Western Australia. PBT is pursuing the development of a battery cathode active material refinery hub in Kalgoorlie after being granted AUD 119.6 million in the Modern Manufacturing Initiative from the Australian Federal Government. Under the MOU, which is non-exclusive for either party, ChemX and PBT will progress studies and associated works to enable ChemX to supply a suitable manganese product to PBT's Kalgoorlie battery hub, from the Company's High Purity Manganese Sulphate Monohydrate (HPMSM) Project located on the Eyre Peninsula in South Australia.

ChemX and PBT will meet their own costs in undertaking the studies covered under the MOU and will cooperate in good faith to negotiate a binding offtake agreement should ChemX's manganese project proceed to development. The parties aim to complete the studies within the next six months.