Blackstone Minerals signs MOU to repurpose refinery residue

Blackstone Minerals Limited (ASX: $BSX) has entered into a Memorandum of Understanding (MOU) with Phu Minh Vina Environment Company Ltd and Viet Trung Refractory Material Construction Joint Stock Company to research opportunities to repurpose and trade waste material from its Vietnamese Ta Khoa Refinery into construction material products.

Executive Commentary on Refinery Residue Repurposing

At Blackstone we are committed to reduce our carbon footprint and social impact, as well as assist and support our local communities to develop additional industries which complement our Ta Khoa Project. This recent development, repurposing the refinery residue into useful building materials is testament to our commitment. The team has worked hard to find value in our byproducts. When those byproducts can be used by the community and help grow a circular economy, then we really have achieved something great. In addition, Vietnam is proving to be a fantastic jurisdiction to support the Ta Khoa Project. The ability to buy and sell reagents and chemical products within Vietnam demonstrates maturity and opportunities in this great industrial centre.

Summary of Offtake MOU and Future Plans

Blackstone Minerals has signed an MOU with Phu Minh and Viet Trung to explore opportunities to repurpose and trade waste material from its Vietnamese Ta Khoa Refinery into construction material products. This strategic move is expected to yield significant cost savings for the Ta Khoa Project, reduce environmental impact, and assist in permitting and licensing schedules. The company is also actively engaging with Vietnamese companies to develop offtake agreements for the remaining refinery byproducts and supply of reagents. The development of construction material products is aimed at establishing a new industry within Son La Province, Vietnam, and contributing to the circular economy. Furthermore, Blackstone is in discussions with other Vietnamese companies interested in the TKR residue and aims to progress relationships to sign MOUs in early 2024. The company's focus on sustainable mining and vertically integrated supply chain underpins its development strategy, with a commitment to reducing the carbon footprint and implementing environmentally friendly practices.