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StratMin secures first sales contract

StratMin secures first sales contract

Photo by Bloomberg

4th July 2014

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

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JOHANNESBURG (miningweekly.com) – London-listed StratMin Global Resources this week signed its first sales contract with an undisclosed established US-based graphite trading company.

The initial deliveries were for 54 t of +40 mesh, 19 t of -40+80 mesh and 38 t of +60 mesh sourced from the company’s Madagascar-based Lohorano plant, which started commercial production in March.

“I am very pleased with the company's progress. We have swiftly proven our ability to sell a premium product at a confidential price that reflects its quality, following the start of commercial production, as recently as the beginning of this quarter,” commented StratMin MD Manoli Yannaghas.

The graphite production and exploration company expected to secure more sales contracts in due course, with production fine-tuned and increased to meet demand and maximise profitability.

This came as the group reduced production in May and June to avoid accumulating stock until confirmation, through receipt of sales orders, of the marketability of the product.

While the output for the second quarter of the year reached 195 t, the volume capacity at the plant remained at 120 t/m.

The installation of an upgraded dewatering system would be completed by mid-August, increasing capacity at the plant to more than 300 t/m.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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