Australian Mines shares soar after partnering with Indian firm to produce key battery metal

Shares in Australian Mines closed 25 per cent higher last week after the company announced it had partnered with an Indian firm to evaluate the use of scandium in next-generation battery storage technology.

The Perth-based miner said its planned collaboration with India’s Amrita Centre for Research and Development’s Centre of Excellence in Advanced Materials and Green Technologies acknowledges the company as a “leader in scandium research”.

The Centre of Excellence (COE) is engaged in research and development activities in the broad areas encompassing the individual developments in, or an integration of Advanced Materials and Green Technologies based on material synthesis, material characterization, material modification, and innovative methodologies of application.

The four main focus areas proposed in the research activities of the Center are Nanomaterials and Nanocomposites for Green Applications, Environmental and Biological Sensors, Bio-inspired Materials for Green Applications and Materials and Technologies for Sustainable Development

It is the second major research and development alliance to examine the use of scandium from the company’s Sconi cobalt-nickel project in Queensland, which also contains the soft, silvery metallic element that is the target of the joint study.

In May, the metal explorer announced its association with UK-based Metalysis. They are currently studying a process to more efficiently produce aluminium-scandium alloys for use in the automotive and aerospace industries.

Australian Mines says scandium-magnesium alloys are being considered as a high-performance alternative for the next generation of nickel metal hydride batteries.

Shekhar Ghosh is a communications consultant and and former journalist, who has edited and written for publications such as like Business India, Business Standard, Business Today and Outlook.

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