DECEMBER 19, 2023
PRESS RELEASE
Atlas Materials Signs Commercial Agreement with SMGM to Supply Nickel Ore
London – Atlas Materials (“Atlas” or “the Company”) announces the signing of a commercial agreement with Société Minière Georges Montagnat (“SMGM”) for the supply of nickel ore to Atlas’ first commercial plant – Electra. Electra, which will be located in North America, will use Atlas’ breakthrough processing technology to produce clean nickel, magnesium hydroxide and supplementary cementitious material (“SCM”) by 2027.
SMGM will supply up to 200,000 wet metric tonnes of ore per annum under a long term contract on typical market terms. Based in New Caledonia, SMGM is an established producer that meets EU working and environmental standards and the ore supplied will enable Atlas to produce clean nickel for the North American EV battery sector. The contract is subject to certain conditions, including receipt of the necessary regulatory approvals from the competent authorities in New Caledonia.
The Atlas Process creates clean, battery grade nickel with almost zero CO2 when powered by renewable electricity and produces no waste or other emissions while increasing the amount of ore available for batteries by 50%. Until now, saprolite ores, which account for approximately one third of the world’s nickel resources, could not be processed into battery grade applications economically. Atlas is already working with global nickel industry leaders to construct its first commercial scale plant – Electra – in North America.
Jeremy Ley, CEO and co-founder of Atlas said:
“Securing a long-term supply of responsibly produced ore is a significant milestone in Atlas’ development and we look forward to building a strong partnership with SMGM. Demand for nickel from the EV sector is forecast to grow beyond current capacity and Atlas is committed to providing a secure source of clean nickel to diversify global supply chains and support the energy transition.”
Thomas Sevetre, General Manager SMGM commented:
“SMGM is delighted to partner with Atlas to provide a long-term supply of saprolite ore for its environmentally sustainable, energy efficient, zero waste and cost-effective technology. We anticipate that this commercial arrangement will benefit both parties while also expanding the supply of nickel ore to meet evolving demand. This is in line with our vision to develop a truly sustainable nickel industry.”
ENDS
Contact
Aura Financial
Michael Oke, Andy Mills
+44 207 321 0000
The Atlas Process
The Atlas Process uses acid and alkali reagents to extract nickel from ore to produce nickel products used in the production of EV batteries and benefits from several significant advantages as it:
- Works at atmospheric pressure
- Works at atmospheric temperature
- Combines existing proven processing technologies
- Is proven on ores from many of the world’s major nickel mines