Ceylon presently holds a land package deal constituting 121 km² grids containing historic vein graphite deposits in Sri Lanka. These exploration grids (every 1 km² in space) cowl areas of historic graphite manufacturing from the early twentieth Century and signify a majority of the identified graphite occurrences in Sri Lanka.
In line with Ceylon, the “vein” graphite present in Sri Lanka has the very best in situ purity on the earth, however make up simply lower than 1% of the world’s graphite manufacturing.
K1 is Ceylon’s first mining challenge within the nation. The mine web site has been granted the very best class license in Sri Lanka, giving the corporate unique rights to mine, course of and commerce in graphite mined throughout the space specified within the licence.
Commenting on the K1 licence renewal, Ceylon’s CEO Don Baxter mentioned: “We’re more than happy with our technical workers on web site, having maintained compliance with the relevant environmental requirements, and we look ahead to making use of these requirements to our manufacturing development vein graphite prospects in Sri Lanka.”
He added that Ceylon is seeking to “tick all of the ESG packing containers” for OEMs and traders alike because it continues to evolve right into a stand-alone battery know-how firm.
Shares of Ceylon Graphite rose 5.1% following renewal of the K1 licence. The graphite explorer and developer has a market capitalization of C$26.2 million.
