JOHANNESBURG (miningweekly.com) – Graphite exploration company StratMin Global Resources has completed the maiden shipment of 20 t of flake graphite from the Madagascar-based Loharano operation.
The company said in its first operations report on Tuesday that it had continued production ramp-up at its Loharano licence area since its readmission to the Aim on January 29.
Production ramp-up was progressing in line with management's plans to increase the current capacity of around 180 t per 20-day month to 300 t per 20-day month with the introduction of flotation cells.
The company had invested some $500 000 to improve plant throughput, product quality and specification and site infrastructure.
This included buying a drilling rig to optimise short-term mining operations with a view to eventually upgrading the Joint Ore Reserves Committee-compliant resources.
In addition, StratMin believed that additional licence areas owned by its wholly owned subsidiary Graphmada were highly prospective and provided considerable exploration and production upside potential.
“I believe we have made an excellent start on creating a valuable company that will deliver positive returns to shareholders in the near term, and I look forward to updating them on our progress on a regular basis,” StratMin chairperson Gobind Sahney said in a statement.
Edited by: Chanel de Bruyn
Creamer Media Senior Deputy Editor Online
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