Altech Batteries Ltd Stock Market Press Releases and Company Profile
Altech Completes Purchase of Freehold Land over Mining Lease
Altech Completes Purchase of Freehold Land over Mining Lease

Perth, April 5, 2018 AEST (ABN Newswire) - Altech Chemicals Limited (Altech/the Company) (googlechartASX:ATC) (googlechartA3Y:FRA) is pleased to advise that its wholly owned subsidiary Altech Meckering Pty Ltd has completed the purchase of approximately 92 hectares of freehold land covering its granted mining lease M70/1334, at Meckering, Western Australia.

Highlights

- Purchase of freehold land covering mining lease M70/1334 completed

- Ownership secures mining access

- Meckering kaolin mine fully permitted

Altech previously announced that it had exercised its option to purchase the freehold land on 17 October 2017. Settlement of the purchase was subject to the subdivision of the registered land title; the issuing of certificates of title for the new lots created; and final payment of the purchase price, all of which have now been completed.

Kaolin ore from the Company's Meckering mining lease M70/1334 will provide feedstock for its proposed Malaysian high purity alumina (HPA) plant. Altech received mining approval for its Meckering kaolin mine in March 2017 and a works approval for the construction of a kaolin screening and loading facility in August 2017. The Meckering kaolin mine is fully permitted, with construction of the kaolin screening and loading facility able to proceed upon completion of the balance of project financing.

Managing director Mr Iggy Tan said, "Finalising the purchase of the freehold land covering granted mining lease M70/1334 marks the completion of another important milestone in the advancement of our HPA project. The land purchase will ensure unimpeded access to M70/1334 for Altech. The proposed Meckering kaolin mine is fully permitted and construction of the kaolin screening and loading facility and initial mining can proceed once the balance of project finance is secured", he said.

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About Altech Batteries Ltd

Altech Chemical Ltd ASX:ATCAltech Batteries Limited (ASX:ATC) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS ("Fraunhofer") to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns. 

The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech's land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.

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Contact

Corporate
Iggy Tan
Managing Director
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com

Martin Stein
Chief Financial Officer
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com



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