Valence Begins Operational Graphite Production at Uley Project

Valence Industries Ltd. (ASX:VXL) announced that it’s started operational graphite production at its South Australia-based Uley graphite project. Over the coming weeks it plans to ramp up to nameplate capacity of 14,000 tonnes per year.

As quoted in the press release:

This development is part of the plant-commissioning program, and is in line with the regulatory approval received last week for modifications to process water systems. Transport of graphite from the Uley GraphiteTM site to Port Adelaide is planned to commence during June 2015, with shipments under existing contracts to customers in Europe and the Asia Pacific region to commence shortly thereafter.

The Company’s current rights issue to raise up to $9.4 million is scheduled to close on 25 June 2015. The Company’s debt facilities for the expansion are progressing as planned to meet the conditions precedent and are not dependent on the outcomes of the rights issue.

Click here to read the full Valence Industries Ltd. (ASX:VXL) press release.