Australian company Element 25 proposes investing AUD300-400 mln to produce EV fuel in Sarawak

Awang Tengah (third right) during yesterday’s (June 28) roundtable meeting in Perth between the Sarawak delegation and Element 25 officials.

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KUCHING, June 29: The Australian company Element 25 Pte Ltd has proposed investing AUD300-400 million to produce high-purity manganese sulphate (HPMSM) as raw materials used as electric vehicle (EV) fuel in lithium-ion batteries in Sarawak.

According to a statement today, this was discussed during yesterday’s roundtable meeting in Perth between the Sarawak delegation led by Sarawak Deputy Premier Datuk Amar Awang Tengah Ali Hasan and Element 25 officials.

Awang Tengah pointed out that Sarawak has always been an attractive investment destination.

“Sarawak is in favour of these types of manufacturing activities as they are in line with our Post Covid-19 Development Strategy (PCDS) 2030 that aims to achieve a high-income economy, where economic prosperity, social inclusion, and environmental sustainability are enjoyed by all.

“As the world moves towards decarbonisation, the adoption of more environmentally friendly technologies including lithium-ion batteries for EV are gaining popularity,” he said.

Awang Tengah, who is also the Second Minister for Natural Resources and Urban Development, added that with the ongoing United States–China trade war and recent Russia-Ukraine war, the strategic location of Sarawak will become more prominent.

Among those present at the meeting were Deputy Minister of International Trade and Investment Datuk Dr Malcolm Mussen Lamoh, Element 25 Managing Director Justin Brown, Sarawak Economic Planning Unit (EPU) director Datu Dr Muhammad Abdullah Zaidel, Ministry of International Trade, Industry, and Investment (Mintred) Sarawak acting permanent secretary Dzulkornain Masron, Mintred advisor Datuk Naroden Majais, and Mintred special officer Datu Liaw Soon Eng. — DayakDaily