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Peninsula to no longer merge South Korea graphite assets with Battery Mineral

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Peninsula to no longer merge South Korea graphite assets with Battery Mineral

Peninsula Mines Ltd. said Dec. 9 that a previously announced deal with Battery Mineral Resources Ltd. to merge their graphite tenements in South Korea into one company, Korea Graphite Co. Ltd., will no longer proceed.

The proposed joint venture would have been owned on a 45/55 basis by Peninsula and Battery Mineral, respectively.

In mid-November, administrators were appointed to Battery Mineral Resources, with its assets subsequently disposed to a third party.

Peninsula, which owns the Gapyeong, Yongwon, Daewon, Euhna, Wolmyeong and Goseong projects, is now considering joint venture options for its assets.