Published: March 29, 2018 |

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Battery Minerals Limited advised that it has passed another major milestone in its path to become a significant graphite supplier to the lithium battery industry, with the Mozambican Government awarding the Mining License for its Montepuez project.

The Mining License was signed on behalf of the Government by Minister Ernesto Max Tonela.

With the Mining License granted, binding offtake agreements in place and work now having started on the ground, Montepuez is on track for commissioning in the December Quarter this year.

Mr. Tonela said that “This is a significant milestone for the Company as it means we have approvals for stages 1 and 2 of our Montepuez graphite project and for production of at least100,000 tonnes per annum of graphite concentrate.”

Mr. David Flanagan managing director of Battery Minerals said that “We now move to accelerate construction on all fronts and join the ranks of producers.” Mr. Flanagan said that “I would like to thank Minister Ernesto Max Tonela, his staff and the Mozambican Government for granting our Mining License and their efficient processing of our Mining License application.

Mr. Flanagan said that “Montepuez will create more than 170 jobs when it is operating.”

BACKGROUND INFORMATION

Battery Minerals Limited is an ASX listed Australian company with two world-class graphite deposits in Mozambique, those being Montepuez and Balama Central. Battery Minerals has produced high quality graphite flake concentrate at multiple laboratories. Battery Minerals intends to commence graphite flake concentrate production from its Montepuez graphite project with first shipment in the March 2019 Quarter at export rates of 45,000 to 50,000tpa at an average flake concentrate grade of 96.7 percent TGC. In December 2017 and January 2018, Battery Minerals signed four binding offtake agreements for up to 41,000tpa of graphite concentrate, representing over 80 percent of Montepuez’s forecast annual production. The Mozambican Government has granted Battery Minerals a Mining License for its Montepuez graphite project and accepted the Company’s EIA for the Montepuez graphite project.

As Battery Minerals executes subsequent expansions, it expects production to grow to over 100,000 tonnes per annum graphite flake concentrate from its Montepuez graphite project by 2020.

Battery Minerals has also recently announced delivery of a scoping study on its Balama Central project, which comprises a Stage 1 production rate of 55,000tpa (B1) and Stage 2 rate of 110,000tpa (B2). Balama is currently the subject of a feasibility study. Combined with Montepuez and subject to continued positive economic, social and technical investigations, Balama Central provides scope for self-funded growth from a ~50,000tpa production-rate in 2019 to more than 200,000tpa in 2022. (For full details on the Balama Central Graphite Project Scoping Study see ASX announcement dated March 1, 2018.

Source: Steel Guru

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