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Supply deal charges up East African graphite project

3 February 2022
ASX: BEM
Jack Baker

A critical commodities specialist, BlackEarth Minerals will focus on further improving downstream processing capabilities at the already enormously optimised Maniry Graphite project in Madagascar, following a milestone supply deal with Germany’s Technografit resolving short-term sales imperatives.  

The agreement also expedites the development of the high-quality graphite project as it prepares to move at least 2500 tonnes of premium graphite concentrate onto the market each year with no short supply of battery manufacturers keen to lock down long term supply contracts. 

“The agreement guarantees our Indian operations a supply of world class concentrate to feed our operations for the next few years prior to supplying product from our own operations.  

“We can now move forward quickly knowing that we not only have a product offtake agreement in place (with Grafitberbau, Austria) to sell the expandable graphite we produce, this agreement also provides us with immediate access to world-class concentrate to ensure us to produce and sell quality high-value product in the short term.  

“The agreement also assists to underpin our proposed plant development in Madagascar, as concentrate from this development will be provided to our downstream operations with Metachem as soon as this is available.  

“Our relationship with Techniografit and Luxcarbon further broadens our association with industry-leading graphite product developers in Germany who have access to markets for expandable graphite and other downstream products in Europe and worldwide.” 

Production is earmarked to begin in early February, subject to a later date corresponding with the completion of the plant.

BEM’s Australian Stock Exchange-listed price is trading at 13.5c (7:38 am UTC+8 hours) 

COMPANY OVERVIEW

BlackEarth Minerals (ASX:BEM) is a vertically integrated graphite developer with advanced mining projects in Madagascar and base metal prospects (Ni-Cu-PGE) in Western Australia. The Company holds the flagship Maniry Graphite Project which is located in Southern Madagascar, with the Bankable Feasibility Study (BFS) currently underway and a focus on value added products which are in high demand. BlackEarth is currently reviewing several downstream value added graphite processing opportunities.

COMPANY INFORMATION

ASX: BEM

Website

https://www.blackearthminerals.com.au/
https://www2.asx.com.au/markets/company/bem

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