BRISBANE: Australian Mines Ltd. said Tuesday it has received a formal expression of interest from German commodities trader HMS Bergbau AG regarding potential offtake arrangements for nickel, cobalt and scandium from its Sconi Project in Queensland.
The non-binding proposal could pave the way for a long-term supply agreement, as the companies engage in discussions over the next six months to determine key terms, including pricing and volumes.
The potential deal may allow Australian Mines to access funding under the German government’s Raw Materials Fund, aimed at securing critical minerals supply chains and reducing reliance on dominant global producers.
“This EOI represents an important early step toward securing a long-term partnership that could support not only offtake arrangements, but also broader funding opportunities,” said Australian Mines CEO Andrew Nesbitt.
HMS, a logistics and trading firm with operations across Europe, Africa, Asia and the Middle East, has expressed interest in securing critical minerals as part of Europe’s push for supply chain resilience amid growing demand for materials used in clean energy technologies.
“We are pleased to explore offtake arrangements with Australian Mines to secure critical mineral supply for Europe’s energy transition,” HMS CEO Dennis Schwindt said.
Australian Mines previously had an offtake agreement with LG Energy Solution Ltd., but believes it has the right to terminate that deal due to unmet conditions and production delays.