Battery Mineral Resources Corp. Announces Agreement with Anglo-American PLC

BMR is pleased to have entered into an Agreement that is both economically and environmentally beneficial.

Battery Mineral Resources Corp. has announced the execution of an Offtake Agreement (or the “Agreement”) with Anglo American Sur. S.A. (“Anglo” or “Anglo American”) a division of Anglo-American PLC.

Anglo’s Chagres smelter in Catemu, Chile has agreed to sell up to 240,000 Dry Metric Tonnes (“DMT”) of copper slags to be processed into copper concentrates at BMR’s Punitaqui copper flotation plant. Anglo has agreed to purchase all the copper concentrate to be produced from the supply of copper slags. The terms and conditions of the Agreement are benchmark for this type of concentrate. BMR anticipates the processing of copper slags will commence within approximately 90 days, subject to completing certain plant maintenance and upgrade activities. The Agreement is in addition to the agreements previously entered into between the Company and Javelin Global Commodities (“Javelin”), as such agreements were announced by the Company on February 12, 2024. Javelin shall not market the copper concentrates processed from copper slags and shall not be paid any commission in respect thereof.

Battery CEO and director Martin Kostuik stated: “We are extremely pleased to announce this agreement, which comes at a perfect time for BMR. The Agreement provides the Company low-cost copper bearing material to be processed at our Punitaqui flotation plant while Battery begins commissioning of the plant. It allows BMR to generate cash flow from copper sales while the Cinabrio, San Andres and Dalmacia mines will be ramping up to reach full production.”

Furthermore, by allowing BMR to process slags, which are a by-product of previously smelted ores, the Agreement further demonstrates the Company’s ongoing commitment to the Environmental portion of its Environmental, Social and Governance (ESG) principals. Specifically, the processing of slags does not include activities which would otherwise be undertaken by BMR when processing fresh ore from its mines, including but not limited to underground drilling, blasting and mining.

BMR is pleased to have entered into an Agreement that is both economically and environmentally beneficial.