MGX Minerals Inc announced a new business development and distribution partnership with Korea’s Dong Bang Metal Co Ltd for metallurgical grade silicon.
The non-binding Letter of Intent outlines commercial terms including grade, quantity, price, delivery and distribution plan for Dong Bang to receive exclusive distribution rights for Asia, inclusive of Korea and Japan.
According to Vancouver-based MGX, metallurgical testing on a one-ton sample from its Gibraltar silica deposit in British Columbia has indicated that the material is chemically suitable, as medium quality feedstock, for metallurgical-grade silicon.
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The partnership comes at a time when the demand for silicon metal is growing. Recent supply chain bottlenecks have limited overall supply, creating an opportunity for the distribution of silicon in Asia from North America.
As well, increased demand for solar panels, microprocessors, and silicon alloys, due to its semi-conductor and structural properties, continues to create large scale shortages for silicon.
MGX’s Gibraltar silica property is located around 95 kilometres northeast of Cranbrook, BC and covers a sedimentary clastic-carbonate rock package located near the confluence of Kootenay and White River.
Dong Bang Metal Co is a nonferrous metal processing company located in Incheon, Korea that primarily manufactures and assembles aluminum zinc die-cast materials in cooperation with Kia Corporation (Hyundai), SL Mirrortech, Mobase Electronics, INFAC Elecs, Seung Won Industry, and Pavonine.
MGX Minerals is a diversified Canadian resource and technology company with interests in strategic metals, precious metals, and energy technologies.
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