Battery Minerals’ second graphite operation, Balama Central in Mozambique, will cost just $US69.4 million ($96 million) to develop and boast a mine life of 27 years, a feasibility study has shown.
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The ore reserves at Battery Minerals’ Montepuez graphite project, in Mozambique, have increased to 42.2-million tonnes at 9.3% total graphitic carbon (TGC) for 3.9-million tonnes of graphite.
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Australia’s Battery Minerals (ASX:BAT) said Thursday development of its $51-million Montepuez graphite project, in Mozambique, has achieved key construction milestones.
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The development of the Montepuez graphite project, in Mozambique, is progressing well and the funding strategy has also advanced, Battery Minerals reported on Thursday.
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Australian company Battery Minerals has announced there are seven groups interested in providing the funds needed to reach the US$51.2 million needed for its Mozambican graphite exploration project, the Australian press reported.
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Graphite developer Battery Minerals is looking at ways to exploit the near $10-billion worth of vanadium contained in its assets in Mozambique.
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Battery Minerals has plenty of other options after a key investor pulled out of a planned $US30 million ($40.5 million) investment needed to bring its first graphite mine into production, managing director David Flanagan says.
Read MoreGraphite developer Battery Minerals has reported a 14% increase in the mineral resource estimate of the Elephant deposit, at its Montepuez project, in Mozambique.
Read MoreGraphite developer Battery Minerals has secured a $30-million debt and equity package from Resources Capital Funds (RCF) to fund its Montepuez graphite project, in Mozambique.
Read MoreBattery Minerals has doubled the mineral resource estimate at its Balama graphite project, in Mozambique.
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