The plant is expected to be capable of recycling up to 30,000 metric tons of palm kernel material equivalent to produce up to 10,000 metric tons of battery-grade, artificial graphite per year.

Woodcross Resources, a Uganda-based mining and mineral trading company, owns the plant.

The mining and commodities trader giant will provide EVelution with long-term supplies of cobalt hydroxide.

The frame agreement is a continuation of Metso’s and Almalyk MMC’s contract signed at the end of 2022 for the design and basic engineering work for the copper smelter.