The purchasing corresponds to around 50 % of the planned annual graphite output from Kibaran’s proposed mine, in the Epanko Graphite Project located in Tanzania, East Africa. With the conclusion of the agreement, ThyssenKrupp Metallurgical Products has also secured the option of a five-year extension.
The Epanko Graphite Project is expected to be in operation in early 2017. A mining license has already been obtained from the Government of Tanzania. Kibaran Resources Limited specializes in graphite exploration in the mineral-rich regions of Tanzania. In the Epanko region, the Australian company has secured an extremely promising site offering significant graphite deposits and good development opportunities, with transport infrastructure already in place. The East African country of Tanzania is also well-disposed toward the mining industry and aims to develop this economic sector. Graphite is an industrial mineral which is an important component in lithium iron batteries used in smartphones, tablets and electric vehicles. Graphite is also well-suited to high-temperature applications, in particular the manufacture of refractory compounds and bricks.
Comments of company representatives
Kai-Norman Knötsch, Chairman of the Management Board of ThyssenKrupp Metallurgical Products commented “Graphite is an extremely good fit with our mineral unit’s portfolio. The collaboration with Kibaran Resources Limited will enable us to further expand our activities in the refractory industry in Europe, Russia and Korea.”
Andrew Spinks, Managing Director of Kibaran Resources Limited added “The signing of the agreement for the sale of Kibaran’s graphite products is a milestone event, enabling Kibaran to progress the development of Epanko and become a significant graphite producer. We are extremely pleased to formalize our relationship with ThyssenKrupp given the company’s expertise in the industrial minerals sector, their scale of operations globally and international business standing.”
(Source: ThyssenKrupp Metallurgical Products)