Coolabah Metals is expanding its exposure to battery minerals with an increased focus on the increasing demand for fluorine.
Grant has been offered for the Mundi Mundi Project, a Group 2 (Non-metallic minerals) exploration license 40km north-west of Broken Hill covering two historic mines exploited previously for fluorite (the ore mineral of fluorine).
Fluorine is a fundamental component of electrolytes in existing lithium-ion batteries.
Fluorite (CaF2) is used to produce fluorine, which the Federal Government added to Australia’s Critical Minerals List in December 2023. The Federal Government added fluorine to Australia’s Critical Minerals List in recognition of its role in the energy transition and a lack of production in Australia.
Fluoride-ion batteries also have the potential to displace lithium-ion batteries as they have a potential 8-fold increase in energy density relative to lithium-ion batteries.
Coolabah have received firm commitments for a placement of approximately $715,500, with the Company also undertaking a fully underwritten non-renounceable rights issue to raise an additional $1,788,750 ($2,504,250 total) on the same terms.
Fluorite (CaF2) is predominantly extracted from hydrothermal veins deposits like Mount Eltie and Mount Robe. Fluorite has numerous industrial and metallurgical uses from flux in iron and streel production through to next generation lithium-ion batteries.
Recent advances in research have highlighted fluoride-ion batteries (FIBs) as a potential stable candidate to displace lithium-ion batteries (LIBs) as the global standard for the rapidly growing energy storage demand.
Fluoride is a monatomic anion of fluorine with the chemical formula F-. Fluorite (also referred to as fluorspar) is the mineral form of calcium fluoride (CaF2 ) and the dominant ore mineral of fluorine.
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