According to the initial three-year MoU, the two parties will evaluate to consider the lithium conversion facility with a capacity ranging between 20,000tpa and 25,000tpa of lithium carbonate and/or lithium hydroxide to be located in an industrial zone in Vietnam.
A joint project team will be established by Pan Asia Metals and VinES which will study project ownership, feedstock supply and offtake provisions.
The team will also begin discussions with third-party feed providers for lithium feedstock. This facility is expected to optimise logistics.
Once the study is completed, the two companies will begin negotiations on the agreement terms defining the collaboration for the project.
Pan Asia has already started a feasibility study for a standalone lithium facility with technical coordination from Lithium Consultants Australasia.
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Pan Asia Metals’ chairman and managing director, Mr Paul Lock said: “We are thrilled to be working with VinES, an ESG-focused EV battery manufacturer, in the evaluation of a standalone lithium conversion facility in Vietnam. This is a significant step towards achieving our strategy focused on developing an integrated supply chain to cost-effectively deliver relevant and in-demand products to the li-ion battery market in South-East Asia.
“As a company with a strong focus on South-East Asia, we believe that VinGroup’s dedication to green mobility and technology makes VinES an ideal partner for Pan Asia Metals. We are excited about the potential to contribute to the development of the lithium supply chain in Vietnam through this collaboration, and in achieving our shared goals with VinES.”