Elon Musk's Tesla signs a deal with the Tanzanian subsidiary of Magnis Energy Technologies Ltd, Uranex.

Elon Musk's Tesla has inked a contract to buy anode active material (AAM) from Tanzania. This comes after Tesla struck an agreement with a vertically integrated lithium-ion battery business, Magnis Energy Technologies Ltd, and its Tanzanian subsidiaries Uranex Tanzania Limited (Uranex) and Magnis Technologies Tanzania Limited (MTT).

According to a statement released by Uranex yesterday, Tesla has consented to buy between 17,500 tonnes and 35,000 tonnes of anode active material (AAM) annually from Magnis Energy Technologies beginning in February 2025 for a period of three years, for an unknown sum.

The company is a member of the Imperium3 New York consortium of businesses, which is constructing a gigafactory for lithium-ion battery cells in New York, in addition to its graphite mining operation in Tanzania.

Magnis is also a partner and stakeholder of C4V, a battery cell technology firm situated in New York. Consequently, Tesla might benefit from the battery projects as the manufacturer seeks to acquire a huge quantity of battery cells to support its aim to produce 20 million electric vehicles annually by 2030.

“The deal arrives at a critical juncture for both companies. Tanzania as a country is set to benefit tremendously in terms of technology transfer, and employment, among other aspects,” Uranex said.

The agreement with Tesla, according to the announcement, is for the procurement of fully processed graphite and spheronised graphite. It says that Uranex will direct the Nachu Mining Project of premium natural flake graphite concentrate in Tanzania.

Tanzania has a symbolic chance to collaborate with a renowned international actor in sustainable energy through the strategic collaboration.

Through the Nachu Graphite Project, Tanzania will in turn be a leading contender in the global push for moving towards the use of greener and sustainable renewable energy,” a statement from the Tanzanian party reads.

With the top-notch facilities and infrastructure envisioned for the Special Economic Zone, Tanzania also has the certainty of having its long-term goals of being the home of cutting-edge industrial innovations accelerated.

“Magnis guarantees to improve the livelihoods of Tanzanians by providing high-quality jobs to the nationals and ensure contribution towards the country’s economic growth,” the statement says.

According to the document, Magnis' working strategy in Tanzania is to make sure that the company's expansion aligns with the societal development objectives around its projects, such as the Nachu Graphite Project.

Source: business insider Africa.

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