M a r k e t N e w s
Mining Co. To Supply Lithium-Ion Battery in Tanzania
Posted on : Thursday, 10th March 2016
Kibaran Resources Limited fresh from a 2.0 million US dollar capital raising has sent a sample of graphite from its Epanko project in Tanzania to test as a premium product for use in lithium-ion batteries.
The new bulk sample of 200 tonnes of Epanko graphite ore will be processed to produce 20 tonnes of flake graphite concentrate and will provide production cost and product pricing benchmarks.
Previous tests had established Epanko graphite as suitable for use in the fast growth lithium ion (Li-Ion batteries or LIB) battery market.
The testing programme is being supported by Japanese trading conglomrate Sojitz Corporation with which Kibaran recently signed a Memorandum of Understanding for the supply of graphite for lithium-ion batteries.
Sojitz is one the largest graphite traders in Japan and Korea. Kibaran intends to produce initially 40000 tonnes a year of natural flake graphite concentrate. About 50 per cent of this is expected to be sold to the refractory industry for use in steel mills.
The stakes are high as supply of graphite to the battery market would boost earnings for Epanko which is not currently incorporated into the current debt funding proposal and could account for 25 per cent of Epanko's annual production.
Source : allafrica.com
