Source: Macauhub

The Mozambican government has granted a mining license to Battery Minerals for the development of a graphite deposit exploration project in Montepuez, Cabo Delgado province, the Australian company said in a statement on Monday.

The mining license will allow the company to start phases 1 and 2 of the project, which outlines production of 100,000 tons of zinc/lead and copper graphite concentrate per year.

The company also announced that once the mining license has been obtained and sales contracts are in place, exploration works can be awarded in December.

Battery Minerals is listed on the Australian Stock Exchange. The company produces concentrated graphite flakes and has two world-class graphite deposits in Montepuez and Balama Central.

The company has already signed four binding contracts to supply up to 41,000 tons of graphite concentrate per year, which account for around 80% of the Montepuez deposit’s annual production forecast.