LONDON (Alliance News) - StratMin Global Resources PLC Thursday said it is now steadily producing carbon grades in excess of 94% in graphite production at Lohorano in Madagascar.
The graphite mining and production company said it achieved an overall carbon grade of 94.3% over an eight-day period, after new milling equipment was installed at the Lohorano property in March, and is now achieving the premium pricing required under its current off-take agreement.
StratMin said it has managed to avoid significant flake size degradation usually associated with excess milling, retaining over 50% of the total run of production as large and jumbo flake, adding that it has identified further improvement opportunities and expects the large flake proportion to increase along with grade improvements as the process is further optimised.
"As we have outlined in recent announcements, the team has demonstrated that it is able to increase volumes with the existing plant. This increase in carbon content means that all the graphite we produce is now profitable, something that makes StratMin stand out amongst its peers," Managing Director Manoli Yannaghas said in a statement.
Shares in StratMin were trading up 9.6% at 5.34 pence Thursday morning.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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