Name of the Project
Montepuez graphite project.

Location
Mozambique.

Project Owner/s
Battery Minerals.

Project Description
Montepuez Stage 1 is a 50 000 t/y graphite flake project. 

The current project life is 20 years, which Battery Minerals expects to expand to about 100 000 t/y in Stage 2. 

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at a 10% discount rate, of $146-million and an internal rate of return of 36.2%. Payback has been reduced from 4.75 years in the definitive feasibility study (DFS) to two years in the value engineering study.

Capital Expenditure
Total capital expenditure in the value engineering study is estimated at $42.33-million, compared with $126-million in the February 2017 DFS.

Planned Start/End Date
Steady-state production is expected in the final quarter of 2019.

Complete ramp-up of the first stage of the mine is expected in the third quarter of 2019.

Latest Developments
Battery Minerals has appointed development capital adviser ThirdWay Africa to assist in securing financing for the Montepuez graphite project.

It has also implemented a cost-reduction strategy to ensure that the company remains funded throughout the project financing process.

The cost-reduction exercise, which started in May, has reduced ongoing overheads without affecting the company’s ability to complete the project funding.

Measures for the exercise have included a restructure of the Battery Minerals board, reducing the number of directors from six to three. The board now includes Sinclair and two other nonexecutive directors.

Key Contracts and Suppliers
ThirdWay Africa (capital adviser).

On Budget and on Time?
Not stated.

Contact Details for Project Information
Battery Minerals, tel +61 8 9322 7600, fax +61 8 9322 7602 or email info@batteryminerals.com.