- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
Purpose Bitcoin ETF
Silver47 Exploration
Syntheia
CI Galaxy Bitcoin ETF
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Battery Minerals Granted Mining License for Montepuez Graphite Project
The Australian developer and explorer is expecting the first graphite shipment from Montepuez in the first quarter of 2019.
Australian developer Battery Minerals (ASX:BAT) has been granted a mining license for its flagship Montepuez graphite project in Mozambique, the company announced on Monday (March 26).
As a result, Montepuez is on track for commissioning in November, with its initial graphite shipment expected in the first quarter of 2019.
“This is a significant milestone for the company as it means we have approvals for stages 1 and 2 of our Montepuez graphite project and for production of at least 100,000 tonnes per annum of graphite concentrate,” Managing Director David Flanagan said.
The company is now looking to accelerate construction on all fronts, as it aims to produce at a rate of 45,000 to 50,000 tonnes per year in stage 1. Material will have an average flake concentrate grade of 97.7 percent total graphic carbon.
The Montepuez graphite project has a current life of 20 years, which the company expects to grow.
Demand for graphite, an essential component in the lithium-ion batteries used to power electric cars, is expected to surge in coming decades as electric vehicle sales continue to increase.
Battery Minerals has signed four binding offtake agreements for up to 41,000 tonnes per year of graphite concentrate, which represent over 80 percent of the project’s forecast yearly production.
The company is also developing the Balama Central graphite project in Northern Mozambique. The asset is next to Syrah Resources’ (ASX:SYR) Balama graphite mine, which began commercial production last November.
On Monday, shares of Battery Minerals closed up 1.22 percent in Sydney at AU$0.08. The company’s share price has been on an uptrend since January, and is up more than 22 percent year-to-date.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
Latest News
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.