M a r k e t N e w s
Magnis Resources Ltd produces high quality graphite from Tanzania
Posted on : Monday, 12th September 2016
Magnis Resources Ltd (ASX:MNS) has demonstrated the use of flake concentrate from the Nachu Graphite Project in Tanzania for the production of spherical graphite for lithium ion batteries.
The company used milling equipment in Europe to process flake concentrate produced from composite diamond drill core to ensure a representative sample of the ore body.
Importantly, no chemical or thermal purification was used in the production of the spherical graphite.
Yields of 75% were consistently produced which is significantly higher than existing spherical graphite production.
By alleviating the need for intensive chemical purification for graphite processing, Magnis has presented the viability of an alternative supply chain with a reduced carbon footprint.
The company has finalised all regulatory and environmental permits for the Nachu project, completed a bankable feasibility study and has a clearly defined concentrate export plan.
Magnis expects initial site works to commence in Q4 CY2016 prior to the Tanzanian wet season starting in January 2017.
The company has also entered into a collaboration with Charge CCCV for battery anode development.
The agreement covers both the development of spherical graphite anode material and the progression of silicon/graphite anode material to deliver a significant step change in battery mileage.
Charge CCCV is located in a facility at Binghamton University, U.S., that houses professor M Stanley Whittingham, a key figure in the history of the development of lithium batteries.
Magnis had a cash balance of $7.2 million as at 30 June 2016.
Source : www.proactiveinvestors.com.au
