PERTH (miningweekly.com) – ASX-listed graphite developer Bass Metals has signed a sales and purchase memorandum of understanding for half of the forecast graphite concentrate production from the Stage 1 development of its Graphmada project, in Madagascar.
The un-named European party was expected to purchase some 3 000 t/y of graphite concentrate for a period of three year, with the concentrate to e sold into refractories, foundries and crucible markets throughout Europe.
“Our partnering with a group that has been in operation for more than 100 years and generates annual revenues of greater than €350-million is an important strategic development for Bass,” said CEO Tim McManus.
“Their customer base includes companies from the refractory industry, metallurgy and foundries, cement and construction materials as well as chemicals and plastics processing. This partnership will benefit the company through distributing our premium concentrates to end-users in Europe and establishing Graphmada concentrate as a highly valued product in end markets.”
Bass is currently working to optimise the Stage 1 Graphmada operation to produce some 6 000 t/y of concentrate, with the Stage 2 development targeting a production of 20 000 t/y by 2019.