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Encounter Resources Enters MOU on Lithium-Niobium Battery Development

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Encounter Resources (ASX:ENR) entered a memorandum of understanding (MOU) with UK-based Echion Technologies and Western Australia-based Switch Technologies (WA) to collaborate on integrated lithium-niobium battery development, according to a Wednesday filing with the Australian bourse.

The MOU will expand to include additional niobium anode battery users, such as logistics companies, mining fleet owners, original equipment manufacturers, data center developers, and niobium suppliers, the filing said.

Encounter Resources shares rose 2% in afternoon trade on Wednesday.

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