Valence shuts Uley processing
PERTH (miningweekly.com) – Graphite miner Valence Industries this week suspended processing activities at its Uley project, in South Australia, as the company faced a tough financial situation.
MD Robert Mencel said that the suspension of on-site processing would reduce the company’s operating costs by about A$290 000 a month.
“Production at the site has been ongoing at low levels for some months in order for us to achieve some inventory of on-spec material to provide to customers for qualification purposes. The exercise has also been useful to clarify the issues with the existing plant and to assist in design parameters for the revised plant,” Mencel said.
He added that to suspend processing at Uley was a difficult decision; however, he noted that the existing production rate was uneconomic and could not continue.
“The immediate focus is on rebuilding the capital of the company and to re-establish it as a quality graphite producer,” Mencel said.
Valence in September this year cut production at the Uley plant to 50% of its nameplate capacity, and announced a 60% reduction in its workforce at both the Uley operation and at its corporate office in Adelaide, as part of efforts to reduce costs.
Mencel said this week that the company would continue to work on financial solutions to enable production to restart as soon as practicable.
Meanwhile, graphite sample preparation in support of sales and marketing efforts to potential and existing customers would continue using existing stockpiled material.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
The Steel Tube Export Association of South Africa was established to develop sustainable, internationally competitive carbon steel tube and pipe...
VISIT SHOWROOM
Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
