It’s been a busy week for Battery Minerals which has now signing a third binding offtake agreement, this time with Qingdao Black Dragon Graphite Co. Ltd.
The deal – for 10,000 tonnes a year of graphite concentrate from Montepuez for an initial term of 3 years – means 60% of forecast annual production from the Montepuez project in Mozambique is now locked into sales contracts.
Black Dragon is a privately-owned company based in Shandong in China with extensive expertise in mining, production, downstream processing and marketing of graphite.
“The Montepuez is rapidly gaining momentum, as demonstrated by the fact that we now have three binding agreements covering 60 per cent of our forecast annual production. Battery Minerals Executive Chairman David Flanagan said:
“At the same time, we are in discussions to finalise the Mining Licence and we are rapidly advancing the Montepuez project as part of our strategy to be in production by December 2018 and complete our first shipment in the March Quarter of 2019.”
The news comes hot on the heels of Battery announcing a deal with Qingdao Guangxing Electronic Materials Co. Ltd (GEM) yesterday.
Shares in Battery gained 0.1c to 7c in morning trade.