PERTH: Nimy Resources Ltd. (ASX: NIM) has signed a non-binding memorandum of understanding with U.S.-based M2i Global Inc. for the potential sale of gallium from its Mons Project in Western Australia.
The agreement, announced Monday, grants M2i exclusive rights to negotiate the purchase of 100% of the gallium-bearing concentrates from the project for delivery to the United States. The MOU outlines a collaborative path toward a binding offtake agreement, expected within 12 months or upon M2i securing a U.S. government award.
A key component of the partnership is M2i’s commitment to assist Nimy in engaging U.S. government entities, including the Department of Defense, as potential buyers. M2i will also seek to provide project financing options and introduce Nimy to third-party groups.
“The signing of this MOU with M2i Global represents a pivotal moment for Nimy as we advance the Mons Project towards production,” said Luke Hampson, managing director of Nimy Resources.
The Mons Project contains a near-term JORC-compliant gallium resource alongside other critical minerals. Gallium is a strategically important metal used in semiconductors, aerospace and defense applications.
“This MOU underscores our commitment to building a robust critical minerals supply chain,” said Al Rosende, CEO of M2i Global.
The parties have entered a six-month due diligence period. Upon the commencement of shipments or formal U.S. government nomination, the offtake arrangement for U.S.-bound gallium would extend for the life of the mine.