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Strong Project Development Scenario for Springdale, International Graphite CEO Says
Apr. 03, 2024 01:00PM PST
Graphite InvestingInternational Graphite Managing Director and CEO Andrew Worland said the company's Springdale graphite project is "on a serious world-class scale as a deposit."
Purification testwork on graphite concentrates from International Graphite’s (ASX:IG6) Springdale graphite project achieved results ranging from 99.96 percent loss on ignition (LOI) to 99.97 percent LOI, which exceeds the purity requirements of major lithium-ion batteries. Andrew Worland, the company’s managing director and CEO, noted that the project has great attributes that make it stand out.
“It's got a significant resource ... so we'll be mining there for 50 (to) 60 years, and that's still with a lot of exploration potential for the asset,” he explained. "The other attributes of it that makes it unique and compelling for investors are its cost structure, and a lot of that has to do with Mother Nature, frankly. The mineralisation itself is a fine graphite, so we've got a very simple flotation process. ... We have one product, which means a simple flow sheet and lower capital cost."
International Graphite released key findings from its new Springdale-Collie integrated mine-to-market scoping study in January, saying they indicate a multi-decade operating life.
The scoping study aims to assess the viability of developing a graphite mining and concentrate production operation at Springdale on the south coast of Western Australia to supply graphite concentrate to its planned Collie battery anode materials facility. International Graphite plans to initially use imported graphite to feed Collie before Springdale is in production.
“Everybody should be aiming to get as close to their market as they possibly can. That's where the highest-value product is," said Worland. "So from a purely economic and financial perspective, all companies would like to get as close as they can to the market with a finished product. And we're very much in that frame.”
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