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Why is Castle Minerals Limited's Graphite Concentrate Production a Major Advance in Battery Anode Material Supply? Castle Minerals Limited

Why is Castle Minerals Limited's Graphite Concentrate Production a Major Advance in Battery Anode Material Supply?

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Castle Minerals Limited has achieved a significant milestone in the production of commercial grade bulk fine flake graphite concentrate at its Kambale Graphite Project in Ghana. This breakthrough could have major implications for the supply of Battery Anode Material (BAM) used in the production of lithium-ion battery (LiB) anodes.

The successful test work conducted using a conventional grind and flotation concentration circuit resulted in a graphite concentrate grading 95. 1% Total Graphitic Carbon (TGC). The bulk concentrate will now be transported to Germany for appraisal, including electrochemical and electric vehicle (EV) battery performance tests.

With forecasts predicting an additional 100 to 120 million light EVs on the road by 2030, there is an urgent need for a reliable supply of battery-grade graphite. Each EV contains between 30kg and 60kg of battery-grade graphite, and the current supply is inadequate to meet this demand.

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Furthermore, the heavy reliance on Chinese supplied anodes and batteries by USA and EU vehicle manufacturers presents an opportunity for alternative supply chains.

Castle's Kambale Graphite Project is well positioned to become a potential supplier to the USA and EU markets. The project boasts a large and shallow-depth graphite deposit, installed hydro-generated "green-grid" power in close proximity, excellent roads, and access to two international ports. These factors enhance the project's development credentials.

Further progress is expected, with the final results from a recent infill RC drilling program and an update to the Mineral Resource Estimate set to be reported shortly. A scoping study will then evaluate the technical and commercial merits of developing Kambale as a reliable source of battery anode material.

Castle Minerals Limited (ASX: CDT) is focused on advancing the Kambale Graphite Project in Ghana, holding the Kambale Graphite Limited (KGL) subsidiary. The successful test work for commercial graphite concentrate production was conducted under the supervision of Metallurgy Pty Ltd and Independent Metallurgical Operations Pty Ltd.

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