(Alliance News) - Alba Mineral Resources PLC said Wednesday it has appointed German firm ProGraphite GmbH to undertake the next phase of testwork at the company's Amitsoq graphite project in southern Greenland.
The AIM-listed mineral exploration & development company said the last phase of testwork confirmed the ability of the Amitsoq project to produce a concentrate containing a significant proportion of flakes in the higher-value large, jumbo and super jumbo flake sizes.
The next phase of testwork will focus on assessing the most efficient and optimised method for the production of material for lithium-ion battery anode testwork, the company added.
George Frangeskides, executive chair of Alba Mineral, said: "Given the premium prices attached to the spherical graphite that is used in battery applications (upwards of USD3000 per tonne), it is certainly well worth assessing whether Amitsoq graphite is amenable to the production of a high purity product which can be used in lithium-ion batteries, as this will add another, increasingly important market for our product."
Alba Mineral said based on the testwork results, it will make a determination regarding the implementation of a further phase of testwork targeting the production of spherical graphite, known as spheronization.
Alba Mineral shares were trading 8.3% lower in London at 0.11 pence each on Wednesday.
By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com
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Alba Mineral Resources (ALBA)