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Tesla, the American multinational automotive, artificial intelligence, and clean energy company have signed an agreement under which it will purchase Anode Active Material (AAM) from Tanzania. AAM is the active material in negative electrodes. This comes after Tesla signed a deal with a vertically integrated lithium-ion battery company, Magnis Energy Technologies Limited, and its Tanzanian subsidiaries Uranex Tanzania Limited (Uranex) and Magnis Technologies Tanzania Limited (MTT). Uranex said in a statement that under the agreement worth an undisclosed amount, Tesla has agreed to purchase from Magnis Energy Technologies between 17,500 tonnes and 35,000 tonnes per annum of Anode Active Material (AAM) from February 2025 for three years.
Tesla, the American multinational automotive, artificial intelligence, and clean energy company has signed an agreement under which it will purchase Anode Active Material (AAM) from Tanzania. AAM is the active material in negative electrodes. This comes after Tesla signed a deal with a vertically integrated lithium-ion battery company, Magnis Energy Technologies Limited, and its Tanzanian subsidiaries Uranex Tanzania Limited (Uranex) and Magnis Technologies Tanzania Limited (MTT). Uranex said in a statement that under the agreement worth an undisclosed amount, Tesla has agreed to purchase from Magnis Energy Technologies between 17,500 tonnes and 35,000 tonnes per annum of Anode Active Material (AAM) from February 2025 for three years.
Magnis Energy is developing a graphite mine in Tanzania where it plans to get ultra-high purity natural flake graphite from the operation. The deal arrives at a critical juncture for both companies. Tanzania as a country is set to benefit tremendously in terms of technology transfer, employment, among other aspects, stated Uranex. Uranex is a subsidiary company fully owned by Magnis Energy Technologies Ltd of Australia and its Nachu Graphite Project is a renowned world-class graphite resource. Nachu Graphite Project is located near Ruangwa, in Lindi, Tanzania.
The battery projects could prove useful to Tesla as the automaker is looking to secure a large number of battery cells in order to support its plan to build 20 million electric vehicles per year by 2030.
Besides, Magnis through MTT, was granted a licence to operate within n a Special Economic Zone (SEZ) in Tanzania for a duration of ten (10) years which was renewed in May 2021.According to the statement, the deal with Tesla entails purchase of fully processed graphite and spheronised graphite.
It states that in Tanzania, Uranex will oversee the Nachu Mining Project of high-quality natural flake graphite concentrate. The graphite resource at Nachu is composed of natural flakes of various dimensions and its purification will not involve chemical processing hence it will be an environmentally friendly processing mechanism.
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Through the strategic partnership, Tanzania gets a symbolic opportunity to cooperate with an iconic global player in sustainable energy. Through this Project, Tanzania will in turn be a leading contender in the global push for moving towards the use of greener and sustainable renewable energy.
