Upgrades at StratMin’s Loharano Graphite Mine Starting to Pay Off, Madagascar
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StratMin Global has reported sustained grade and volume improvements over the past month at its Loharano graphite mine in Madagascar.
The plant has produced over 94 percent graphite concentrate, on demand and at volume for the first time, it said.
Sales, meanwhile, included repeat orders from India and first shipments to new buyers in Germany and Austria, while samples have been approved for further sales in Europe.
Stratmin said it is now onto a final stage of refurbishment that includes new milling and drying units and mining fleet.
A second tranche of funding totaling £1.5mln due from Bass Metals will pay for this and is due by the end of March.
Mining the adjacent Mahefedok area is also underway to bulk test ore for planned new plant.
Brett Boynton, chief executive, said it had been working through a methodical program of operational improvement to maximize the value of every production hour.
“With the plant in an improved operational state, we decided to open up Mahefedok and bulk test the new ore zone on a commercial scale over an extended period ahead of finalizing engineering on the new plant.”
“Everything we have accomplished has been without a break in production so we have utilized to the full extent the cash flow from operations to fund progress.”
Source: (February 17, 2016) Proactive Investors
About StratMin
StratMin Global Resources plc is a London listed large flake graphite production and exploration company focused on Madagascar. Its assets comprise two long-term mining licenses: Loharano and Antsirabe.
An increasingly important commodity, graphite is used in an expansive array of industrial applications and is expected to become extremely important for use in next-generation applications due to its chemical, electrical and thermal properties. StratMin is very well positioned to take advantage of its low cost production platform for premium graphite and rising global demand across a variety of sectors including high end technology and green energy.
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