Sarytogan Graphite (ASX:SGA) reports a Memorandum of Understanding (MOU) between Kazakhstan and the European Union (EU) is positive news for its aspirations to develop the Sarytogan Graphite Deposit.
The company says it will develop the deposit located in Central Kazakhstan to meet the growing demands of the electric vehicle (EV) battery industry in Europe and elsewhere.
The MOU signed on Monday (7 November) relates to strategic cooperation between Kazakhstan and the European Union on raw materials, batteries and renewable hydrogen to boost the green and digital transformation of their respective economies.
Sarytogan reports the agreement was signed on the sidelines of the COP27 climate summit in Sharm el Sheikh in Egypt, and it was signed by the President of the EU Commission Ursula von der Leyen, and Kazakhstan Prime Minister Alikhan Smailov.
In a statement, the EU said the MOU aims to ensure the development of a secure and sustainable supply of raw and refined materials and develop renewable hydrogen and battery value chains to boost the green and digital transformation on both sides’ economies.
After the signing, von der Leyen said: “A secure and sustainable supply of raw materials, refined materials and renewable hydrogen is a key layer to help build a new, cleaner foundation for our economies, especially as we move away from our dependency on fossil fuels.
“This partnership with Kazakhstan shows Europe’s commitment to work with partner countries on our shared commitments to a greener and more resilient future”
This partnership with Kazakhstan shows Europe’s commitment to work with partner countries on our shared commitments to a greener and more resilient future in line with the Global Gateway Strategy and the objectives of the REPowerEU Plan.”
Sarytogan Graphite is an Australian graphite exploration and production company that operates the Sarytogan Graphite Project through its wholly owned subsidiary Ushtogan.
