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BlackEarth take stock on boosted graphite grades

7 December 2021 09:17
ASX: BEM

A swelled Madagascar graphite trove of nearly a quarter plus higher grades and a rosy outlook on the mineral’s future have compelled BlackEarth to update its scoping study.

With 182,000 tonnes of high-grade graphite added to the already considerable stated resource and other improved factors, the critical commodity developer’s mine life is pushed upwards from 11 to 14 years at a reduced operating expenditure of close to US$1 million a year.

Graphite has had modest increases in 2021, but as the battery industry booms in demand, the sector is due to become the largest market for the grey crystalline mineral.

Updates from the study also included the share of revenue expected from its joint venture operations in India, where the explorer has joined with leading expandable graphite producer Metachem.

The ethical-minded producer has made significant progress in its definitive feasibility study, leading to reduced capital and non-mining operating expenditures.

The definitive feasibility study is scheduled for completion mid-way through the new year, with leading external advisers, Perth-based CPC engineering assisting the process.

BEM’s Australian Stock Exchange-listed price has risen 6.67pc today, trading at 11c (7:53 am UTC+8 hours)

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