PERTH (miningweekly.com) – ASX-listed Mustang Resources will start trading under the name New Energy Minerals on October 15, after shareholders approved the name change earlier this month.
The company said on Monday that the new moniker reflected its focus on vanadium and graphite exploration and mining.
“Given the company’s rapid development of the world-class Caula vanadium/graphite project, we believe it to be an appropriate time to rebrand the company to New Energy Minerals, to accurately emphasise our focus on the new energy market and the key commodities that make energy storage and electric vehicle transportation possible,” said MD Bernard Olivier.
“We look forward to taking shareholders with us on this new journey over the next few years as we advance the Caula project in northern Mozambique, with a focus of progressing it to Phase 1 production by the second half of 2019, and beyond.”
The Stage 1 operation is expected to produce some 100 000 t/y of ore, delivering between 10 000 t/y and 15 000 t/y of high-grade graphite concentrate, with the graphite plant being designed to allow future incorporation of all processing equipment into a larger Stage 2 graphite plant.