Ceylon Graphite to enter Lanka | Daily News

Ceylon Graphite to enter Lanka

Ceylon Graphite is to begin a project in Sri Lanka a stock filing said . Ceylon Graphite Corp is listed on the TSX Venture Exchange (Canada). It defines itself as an explorer for graphite engaged in the development of graphite mines in Sri Lanka. Ceylon Graphite was founded in 2017.

The company holds exploration rights over a land package of around 121km². Ceylon Graphite is headed by Bharat Prashar. The company will operate locally with its fully owned subsidiaries titled JADS Enterprises (Private) Ltd and Sarcon Development (Pvt) Ltd.

The company has four sites aiming for operation shortly in Malsiripura (near Kurunegala), Hakbewa, Pasyala, and Karasnagala. All assets of the company are in Sri Lanka. The company claims to have rights to mine in Avissawella, Ratnapura, Balangoda, Ambalangoda, Morawaka, Nuwara Eliya, Mathugama, Kegalle, Attanagalle, and Malsiripura. Graphite is a key component in the manufacture of batteries which are essential for electronic vehicles. The Capital Network investor report on the stock states that “graphite mined from the country is known to be some of the purest in the world but accounts for less than 1% of global production.” Sri Lankan graphite is classified as vein graphite.

The investor reports note that management sees considerable margins to be made from the project. They forecast a selling price of between US$2500-US$3500 per ton with a production cost of US$200.Management believes there is enough graphite to mine for at least another 30 years.

 


 

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