Novamera and OZ Minerals enter into Memorandum of Understanding

OAKVILLE, ON, CANADA and ADELAIDE, SOUTH AUSTRALIA / June 24, 2022 / Novamera Inc. (“Novamera”) and OZ Minerals Ltd (“OZ Minerals”) are pleased to announce that the parties have entered into a Memorandum of Understanding that provides a basis of common understanding to support the creation of a collaborative innovation relationship (the “Partnership”) between the parties. Novamera and OZ Minerals share a desire to unlock value in stranded mineral assets, transform the mining project lifecycle and enable the world’s raw material needs to be met responsibly, equitably, and sustainably. To that end, the Partnership plans to engage in certain activities including, but not limited to, the following:

• Participation by OZ Minerals in the Canadian Mining Innovation Council Consortium of Mining Companies to trial Novamera’s near borehole imaging tool at various project sites later in 2022;
• Assess the potential of deploying Novamera’s technology within OZ Minerals’ project portfolio;
• Collaboratively evaluate potential project opportunities;
• Co-develop collateral to articulate the operational experience and value proposition associated with Novamera’s technology.

“We are excited to take this next step in our relationship with OZ Minerals. Since last September, we have been working with the Think & Act Differently team on the Scalable & Adaptable Mining Challenge. Over that period of time, we realized we share common goals and ideas on the direction of the mining industry and where to unlock value. The MOU will allow us to focus our efforts collectively and begin to leverage our individual core competencies to create a tremendous amount of value for each of our companies,” stated Dustin Angelo, President and CEO of Novamera

Katie Hulmes, General Manager Transformation at OZ Minerals stated: “The Novamera technology can enable surgical mining. This approach has the potential to operate with less waste, water, energy and a smaller footprint. We look forward to working with Novamera as part of the CMIC Consortium and various internal projects.”