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Bass signs sales agreement to sell 50% of graphite output from Graphmada mine

Bass Metals Ltd. signed a sales agreement for 50% of its forecast first stage flake graphite concentrate production from its Graphmada graphite mine in Madagascar of 6,000 tonnes per annum.

Possehl Erzkontor GmbH & Co. KG entered a memorandum of understanding with Bass in mid-June for the purchase of 3,000 tonnes per annum of graphite concentrates for three years, starting Jan. 1, 2018.

Possehl intends to sell the concentrate to refractories, foundries and crucibles throughout Europe and will earn a 5% commission on all sales.

Bass said Oct. 10 it is on track to recommission the mine later this year and ramp up production through early 2018.