The MoU is effective for five years unless the parties mutually agree to terminate earlier formally, a filing on Australian Securities Exchange Ltd from Technology Metals Australia Limited said. Discussions will also include potential investment by Tata Steel into TMT.
Tata Steel, which is targeting net-zero carbon emissions by 2045, has partnered with vanadium developer Technology Metals Australia Limited to reduce emissions in steel applications.
According to Technology Metals Australia’s filing at the Australian Securities Exchange Ltd (ASX), the companies entered into a non-binding memorandum of understanding in which both parties will discuss requirements for downstream vanadium processing.
The MoU is effective for five years unless the parties mutually agree to terminate earlier formally, the filing from Technology Metals Australia said.
Discussions will also include potential investment by Tata Steel into Technology Metals Australia or Murchison Technology Metals Project, according to the filing.
Technology Metals Australia is an ASX-listed company focused on the exploration and development of its flagship, 100% owned Murchison Technology Metals Project (MTMP) located 40 km southeast of Meekatharra in the mid-west region of Western Australia.