PERTH (miningweekly.com) – ASX-listed Battery Minerals will launch a definitive feasibility study (DFS) at its Balama graphite project, in Mozambique, after a concept study demonstrated the potential of the project.
The concept study found that the project could produce a higher-value coarse flake size, with over 50% classified as large and jumbo graphite flake grading at 97% total graphitic carbon.
Executive chairperson David Flanagan said on Thursday that the results from the concept study provided more strong evidence of the company’s potential to become a significant graphite supplier to the lithium-battery industry.
“It is now clear that Balama offers substantial growth potential for Battery Minerals’ shareholders. These results follow the findings of the value engineering study completed on our flagship Montepuez graphite project earlier this month.”
Flanagan said that the company was now in the position of having two emerging graphite projects at a time when the demand for graphite was forecast to soar on the back of demand from lithium-battery manufacturers.
“This is against the backdrop of a market capitalisation of less than A$30-million and a host of news flow to come from drilling, project development, feasibility studies, offtake discussions and funding agreements,” he added.
The company has previously reported a mineral resource estimate of 16.3-million tonnes at Balama, grading 10.4% total graphitic carbon and 0.21% vanadium oxide, for 1.6-million tonnes of contained graphite and 34 000 t of vanadium oxide.
Battery Minerals will now work on resource development at Balama, as well as conducting metallurgical testwork to determine optimal conditions to maximise recovery, while completing a definitive feasibility study and undertaking community engagements.