Curated News
By: NewsRamp Editorial Staff
May 01, 2024

Suvo Strategic Minerals Sees Growth in Kaolin Sales and Strong Progress in Geopolymer Concrete

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Source News Release

TLDR

  • Suvo Strategic Minerals Ltd reported a revenue of A$3.1 million for the quarter, with a 95% market share in hydrous kaolin production, giving them a competitive advantage.
  • The company's quarterly sales increase of approximately 800 tons is largely attributed to the export market, especially to China and Vietnam, with new customers in the paint, coating, inks, and rubber sectors.
  • Suvo Strategic Minerals is preparing for demonstration trials for a government road infrastructure project in Western Australia, aiming to showcase their low-carbon concrete solutions that significantly reduce CO2 emissions, making the world a better place.
  • The company is making progress in the geopolymer concrete sector, including the signing of non-binding Memorandums of Understanding with Permacast and Dowsing, which will lead to interesting commercial agreements.

Impact - Why it Matters

The news highlights Suvo Strategic Minerals' success in the hydrous kaolin market and its progress in the geopolymer concrete sector. This demonstrates the company's ability to innovate and expand its presence in international markets, potentially impacting the construction and infrastructure sectors.

Summary

Suvo Strategic Minerals Ltd (ASX:SUV) interim CEO Bojan Bogunovic and non-executive chairman Aaron Banks discussed the company's quarterly activities report, highlighting revenue of A$3.1 million for the quarter ended 31 March, 2024, from the sale of 5,321 tonnes of hydrous kaolin. The company holds a 95% market share as the only hydrous kaolin producer in Australia, with quarterly sales increasing by approximately 800 tons, attributed to the export market, particularly to China and Vietnam.

Source Statement

This curated news summary relied on this press release disributed by News Direct. Read the source press release here, Suvo Strategic Minerals Sees Growth in Kaolin Sales and Strong Progress in Geopolymer Concrete

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