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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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 MoreThe Mozambique government has awarded a mining licence for the Montepuez graphite project, ASX-listed Battery Minerals reported on Monday.
Read MoreBattery Minerals, which is developing the Montepuez and Balama graphite projects in Mozambique, on Tuesday, announced that it had agreed to study the potential of developing a product marketing strategy with China’s Qingdao Guangxing Electronic Materials (GEM).
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