Company overview
African Battery and its highly experienced leadership team aims to operate throughout the battery metal value chain while practicing responsible mining practices. Application of leadership team’s extensive international/local expertise, latest technology and strong local networks is to not only facilitate value creation for the company, but also contribute to the development of local communities.
African Battery is a joint venture between Tennor Holding B.V. and Romulus Group.
Tennor Holding B.V., a global investment holding company. Tennor invests in special situations where its entrepreneurial innovation provides support and expertise to rapidly create value. Its portfolio is well diversified across technology, industrials, natural resources, media, entertainment & sports, retail and real estate.
Romulus Group was established by the Adebutu family and has strong interests in oil and gas, mining and various other industries in Nigeria.
Investment Focus
African Battery seeks to acquire and manage mining assets in Africa with potential and proven reserves of metals that are integral to the supply chains of the battery storage and electric vehicle industries.
Cobalt
Cobalt has numerous applications in a variety of industries. It is a crucial part of battery storage systems. Another major use is in superalloys that are used in the construction of gas turbine engines. Cobalt is also used to make airbags in automobiles, catalysts for the petroleum and chemical industries, cemented carbides and diamond tools, corrosion- and wear-resistant alloys, drying agents for paints, varnishes, and inks, dyes and pigments, ground coats for porcelain enamels, high-speed steels, magnetic recording media, magnets and steel-belted radial tires.
Graphite
An allotrope of carbon and one of the world’s softest minerals, graphite has a wide variety of uses that range from lubricants to nuclear reactors. In addition, graphite is used to source graphene, which is a key material in the biomedical space and is also used in electronics, sensors, solar panels, sports equipment and others.
Lithium
The vast majority of lithium today is used for the production of electric cars and batteries for electronic devices (mobile phones, laptops, cameras etc.) It also has wide application in air purification and carbon dioxide removal, in particular in confined areas such as aircrafts and submarines. Lithium is also used for the production of polymers and other chemicals.
Manganese
Manganese is a metal with strong deoxidising properties. As a result, it has important metal alloy uses, particularly in the production of stainless steel. Manganese also features in dry cell and newer alkaline batteries. It has additional applications in the chemicals sector (where it is used to produce fertilisers and fungicides), glass colouring and production of ceramics.
Nickel
Nickel is a corrosion-resistant metal and this quality makes it suitable for the production of stainless steel and other alloys used in harsh environments such as chemical plants, petroleum refineries, jet engines, power generation facilities, and offshore installations. Nickel alloys are increasingly being used in making rechargeable batteries for portable computers, power tools, and hybrid and electric vehicles.
Copper
Copper is typically produced as a by-product of Cobalt mining, or vice-versa. It has numerous applications relating to power generation and transmission, electronics manufacturing, construction, transportation and other sectors. As it conducts both heat and electricity, copper is an integral part of all electrical products and components, including appliances, industrial machinery, heating and cooling systems, vehicles and many others.