Firebird Metals Limited (ASX: FRB) has released an updated corporate strategy that is aiming to position the company to supply directly into the growing battery market.
Since listing in 2021, Firebird has delivered significant and rapid progress at its flagship Oakover Project to mine and sell manganese and is now set to transition to the next stage of strategic growth.
The specific strategy has been established to develop Firebird into a near-term producer of battery-grade MnSO4 (high-purity manganese sulphate), which is a key cathode material in LMFP (Lithium, Manganese, Iron and Phosphate) batteries for electric vehicles.
Importantly, 2023 is seen by many industry participants as the beginning of the new era of batteries by commercialising LMFP.
Firebird has completed extensive research in China on the high-purity manganese sulphate market and through multiple trips has developed relationships with several Chinese manganese sulphate experts. Following this period of due-diligence, the Company is well- advanced on an in-house scoping study on assessing processing and location requirements for a plant in China.
Execution of the LMFP growth strategy will place Firebird at the forefront of manganese sulphate production to meet further downstream aspirations of becoming an cathode producer and in a strong position to benefit from growing demand for LMFP.
We are very pleased to reveal our plans for the company’s next phase of major growth,” Managing Director, Peter Allen, said.
“We have delivered strong progress on the ground at Oakover, which included the production of battery grade manganese sulphate through metallurgical test work programmes.
“We have been assessing the forecasted growth trajectory of LFMP batteries for several months now and have developed the LMFP growth strategy, to ensure Firebird is positioned to benefit from the growing demand of this new-generation battery. We have a vision of becoming a global leader in the manganese industry by seamlessly combining mining and downstream processing, with a profound dedication to the advancement of the battery sector. Execution of this strategy is the next step in this pursuit.
“We have spent a lot of time doing our due diligence on the LMFP strategy, which has included several trips to China to assess plant locations and meeting with potential team members. We look forward to completing a Chinese sulphate scoping study and sharing our findings with our shareholders in the coming months.
“LMFP demand is expected to explode over the next decade and delivery of this strategy will see Firebird become a key producer, while we continue to develop our flagship Oakover Project into Western Australia’s next major manganese operation to further expand into the manganese sulphate production.”
