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Battery Minerals doubles graphite resources at Balama Central in Mozambique

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Battery Minerals doubles graphite resources at Balama Central in Mozambique

Battery Minerals Ltd. said March 29 that an updated estimate doubled the graphite resources hosted by its Balama Central property in Mozambique to 32.9 million tonnes at 10.2% total graphitic carbon, or TGC, for 3.4 million tonnes of contained graphite.

The company noted that the indicated portion of the resource nearly tripled, to 26.6 million tonnes at 10.3% TGC, with the indicated grade increasing from 9.3% in the previous estimate.

The updated estimate uses a cutoff of 6% TGC and incorporates data from infill drilling completed in late 2017.

"With the mining license now secured for our Montepuez project and the resource inventory for Balama increased to such a huge extent, our strategy to become a major graphite supplier to the battery industry is well on track," Battery Minerals Managing Director David Flanagan said.

A feasibility study on Balama Central is on track to be completed in August. A recent scoping study on the project defined a 10-year operation producing 55,000 tonnes of graphite flake concentrate per year, with CapEx pegged at US$50.1 million.

The company's Montepuez graphite project, also in Mozambique, is expected to be commissioned in November.