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Injection of funds the perfect spark for Graphite Miner looking to supercharge Australian EV battery development industry?

August 28, 2019

August 28, 2019

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Injection of funds the perfect spark for Graphite Miner looking to supercharge Australian EV battery development industry?

Australian-born and Madagascar-bred Graphite mining company BlackEarth Minerals (ASX: BEM) announced earlier this month that, after rigorous testing, the concentrate obtained from their flagship Maniry Graphite project passed with flying colours, confirming its consistency with the meticulous criteria and specifications required for lithium-ion anode material manufacturing. 

Australian-born and Madagascar-bred Graphite mining company BlackEarth Minerals (ASX: BEM) announced earlier this month that, after rigorous testing, the concentrate obtained from their flagship Maniry Graphite project passed with flying colours, confirming its consistency with the meticulous criteria and specifications required for lithium-ion anode material manufacturing. 

The tests on the Maniry Graphite were undertaken by Dorfner ANZAPLAN, a technical consulting company for the specialty commodity sector. Once the initial tests on the suitability of the Graphite for production of lithium-ion anodes came back positive, ANZAPLAN is now testing to find the optimal conditions for turning the flakes into a purified spherical Graphite product for battery use. 

Anode manufacturers in China reviewed the full report, giving it the thumbs up for further testing to move forward. 

Tom Revy, the Managing Director at BlackEarth, commented: “The results released today reinforce the potential for the Maniry Graphite Project to supply quality product into the growing high value global graphite markets.”

Graphite is the single biggest natural resource required to manufacture a lithium-ion battery – in fact, there is more graphite than lithium in these batteries. Batteries are critical to our future because of the role they play in renewable power: namely, powering electric vehicles. 

Having recently completed an advanced Scoping Study which identified their Maniry Graphite Project to have a 10-year mine life capable of delivering an average of 30,000 ton per annum of Graphite in stage 1 (Years 1-3) and 60,000 ton per annum in stage 2 (Years 4+), BlackEarth shapes as a prime long-term supplier of battery-suitable Graphite.

Additionally, BEM released an announcement at the end of last week, revealing they had successfully completed a placement set to generate $1.68 million for the company. 

The funds raised through the placement will go directly towards fast tracking BEM’s major graphite project in Southern Madagascar, including bulk trial mining, export of ore to a pilot plant, a pilot trial, bankable feasibility studies as well as consultants and contractors, and working capital. 

Reflecting on the new Placement and partnership with Peloton, Revy said: “On behalf of the board, I would like to thank new and existing shareholders for their support to date, as we continue to build on the important milestones achieved over the last year, with the funds raised to be used to lay the platform for the next stages of project development, in line with our fast track development policy.” 

 

 

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*Reach Markets have been engaged by BEM to assist with private investor management.

 

 


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