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Talga's Swedish cobalt spinout could go public within 12 months

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Talga's Swedish cobalt spinout could go public within 12 months

Talga Resources Ltd. could float its Swedish cobalt spinout in the near future, the company's COO Martin Phillips told S&P Global Market Intelligence on the sidelines of the Euro Mine Expo in Skellefteå, Sweden.

In May, the ASX-listed miner announced that it seeks to off-load its cobalt projects in northern Sweden into a domestic subsidiary to focus on its graphite business. Talga Battery Metals AB will hold the Kiskama, Ahmavuoma, Aitik East and Lautakoski projects, while Talga Graphene AB is holding its graphite assets.

Both are public limited companies.

Phillips stated that the spinout process has yet to be completed but flagged that an IPO would be the next logic step and is likely to materialize within the next 12 months.

Meanwhile, he flagged that the Australian company itself has no ambition to move for a dual listing on a European bourse, even though its business units are all located in Europe.

Alongside its mining assets in Sweden, Talga also runs a research and development unit in the U.K. as well as a test facility in Germany for the production of graphene and micrographite.

The commissioning of the plant's next scale up is presently underway, according to Phillips. "However, the long-term view is to move this to Sweden."

Graphene is the basic structural element of graphite and used for coating battery electrodes, enhancing lithium-ion batteries. Graphene coating is widely seen as the next big trend within the field of batteries, making them lighter, more durable and faster charging, while also extending their battery lifetime.

Graphite in the ground at Talga's Nunasvaara deposit, part of the Vittangi graphite project in Sweden, can supply five gigafactories for the next 25 years, according to Phillips.

Last year, Nunasvaara's graphite resource was expanded 12.3 million tonnes at 25.5% graphite, taking Talga's total graphite resources to 48.1 million tonnes containing 8.1 million tonnes of graphite.