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Flinders Resources Limited (TSXV:FDR) announced today that it has signed a new contract with a strategic Chinese partner with well-established design, build and operate capabilities in high-purity graphite production. The relationship with the Chinese partner continues to position Flinders as a supplier of choice to the rapidly expanding and game changing lithium ion battery energy storage industry.
Flinders Resources Limited (TSXV:FDR) announced today that it has signed a new contract with a strategic Chinese partner with well-established design, build and operate capabilities in high-purity graphite production. The relationship with the Chinese partner continues to position Flinders as a supplier of choice to the rapidly expanding and game changing lithium ion battery energy storage industry.
As quoted in the press release
Product from Flinders Woxna graphite plant in Sweden has already been shipped to China and detailed bench-scale test work is underway to enhance the high-purity flowsheet developed for Woxna graphite in 2001 (see Flinders’ news release June 25, 2015). Planned work will verify all technical aspects of the purification process and define economic parameters. The next stage of work will aim to finalize the detailed design of the high-purity graphite flowsheet. The Chinese partner selected by Flinders has the ability to supply all key elements of a high-purity graphite plant.
As reported in Flinders’ new release dated June 22, 2015, the Woxna plant remains on a production-ready status and can be restarted in a matter of hours once viable economics return to the graphite market. Flinders strategy is to position itself as a supplier of choice to the high-purity graphite market, while conserving the Company’s strong cash position of C$4M, in the face of four year lows in natural flake graphite prices. Graphite supply from Woxna to traditional refractory markets will be restricted until profit margins improve.
Flinders Resources President & CEO Blair Way stated:
As the only public company with a modern western mine and production facility able to produce natural flake graphite, Flinders is uniquely placed to take a leading role in the supply of high-purity graphite to the lithium ion battery market. China is presently the leader in graphite purification technology, and is the primary supplier of high-purity natural flake graphite to the battery sector. By partnering with experts in the high purity field, Flinders gains a competitive edge for the timely transition into the high-purity market.
Click here for the Flinders Resources Limited (TSXV:FDR) press release.
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