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Kibaran Resources Ltd. (ASX:KNL) announced that it’s sent a bulk sample of ore from its Tanzania-based Epanko graphite project for production-scale testing. The 200-tonne bulk sample will be processed to produce 20 tonnes of flake graphite concentrate.
Kibaran Resources Ltd. (ASX:KNL) announced that it’s sent a bulk sample of ore from its Tanzania-based Epanko graphite project for production-scale testing. The 200-tonne bulk sample will be processed to produce 20 tonnes of flake graphite concentrate. According to the company, much of the concentrate “will then be used to generate ultrapure spherical-grade graphite.”
As quoted in the press release:
- Previous tests have established Epanko graphite as highly suitable for use in lithium ion (LiIon batteries or LIB) batteries
- Results from the bulk sample tests will be used to determine production costs and establish premium pricing models for Epanko graphite sales to the booming lithium ion battery industry
- Sales to lithium ion battery industry expected to account for ~25% of Epanko’s annual production with ~50% going to steel mills and ~25% for other high-end uses in Europe
- Sales to lithium ion battery industry not included in the due diligence being done on Epanko by lenders, meaning the project’s already-strong economics would receive another significant boost
Andrew Spinks, managing director of Kibaran, commented:
The battery market is booming and based on the very positive test results obtained so far, we believe our graphite has the qualities to supply this market. The testing underway will provide important information to help us pursue also this potentially lucrative aspect of our strategy.
Click here to read the full Kibaran Resources Ltd. (ASX:KNL) press release.