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Blackstone Minerals Limited (ASX:BSX)

ALERT: Price-sensitive ASX Announcement for BSX
Current share price for BSX : $0.038 -0.032 (-45.71%)+
Announcement
Release
27 Aug 2025 9:31AM
Price at Release
$0.070
Full Release
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Summary
Blackstone Minerals Limited (BSX) announced that it has secured a joint venture (JV) partner and substantial funding for its Ta Khoa Nickel Project in northern Vietnam. The company has signed definitive agreements with a subsidiary of Vietnam's largest conglomerate, the Vingroup, which will acquire a 49% interest in Blackstone's Vietnamese subsidiary for US$60 million, with an option to increase its stake to 90% contingent on further investment and project milestones. The partnership aims to advance the development, construction, and operation of the Ta Khoa Nickel Project, which includes a nickel-copper-platinum group element (PGE) mine and refinery complex. The collaboration is expected to support both companies' ambitions to participate in the global battery supply chain, particularly for electric vehicles. The agreement provides Blackstone with the capital required to progress the project through to a final investment decision and de-risks the financial requirements for construction. The announcement notes the strategic fit between Blackstone's technical expertise and Vingroup's downstream capabilities, and outlines proposed governance, funding milestones, and project development timelines.
Key Points
  • Blackstone Minerals has secured a major JV partnership with a subsidiary of Vingroup for the Ta Khoa Nickel Project in Vietnam.
  • Vingroup's subsidiary will invest US$60 million for a 49% stake in Blackstone’s Vietnamese subsidiary, with an option to increase ownership to 90% based on further investment.
  • The JV will advance the development, construction, and operation of the Ta Khoa Nickel Project, which includes mining and a refinery complex.
  • The partnership aligns with both companies’ ambitions in the global battery and electric vehicle supply chain.
  • The agreement provides funding for Blackstone to progress the project to a final investment decision, reducing financial risks.
  • Governance, funding milestones, and project development schedules are outlined in the agreement.
  • The collaboration leverages Blackstone's technical and project management expertise and Vingroup’s downstream and market capabilities.
  • The announcement is a significant step towards Blackstone's vision to become a leading supplier of nickel and battery materials in Asia.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.