6.9 C
Belgrade
Supported byspot_img
spot_img

Castle Minerals to fast-track graphite production in Ghana with $2 million investment

Member of Europium Groupspot_img
Supported byspot_img

Australian junior Castle Minerals is fast-tracking its graphite production plans in Ghana, as the country aims to become West Africa’s first critical minerals hub.

Castle announced a nonbinding term sheet with Ghana’s Minerals Income Investment Fund (MIIF) for a $2 million investment to advance the Kambale graphite project. The funding will support the project through to a prefeasibility study, which will assess the potential for producing specialized natural graphite concentrates and value-added products used in manufacturing lithium-ion battery anodes for electric vehicles (EVs) and energy storage systems.

Castle’s Executive Chairman, Stephen Stone, highlighted that the Kambale project‘s fine flake graphite meets the strict specifications required for lithium-ion battery anode production, supported by extensive testwork. The project’s 22.4-million-tonne high-grade mineral resource is expected to sustain long-term production.

Supported by

In addition to advancing the Kambale project, Castle Minerals is also set to list on the Ghana Stock Exchange, opening up additional in-country capital and investment opportunities.

The MIIF, which already has an alliance with Atlantic Lithium for its Ewoyaa lithium project, sees this investment as part of Ghana’s broader ambition to establish Sub-Saharan Africa’s first lithium-ion battery manufacturing hub, further integrating the country into the global electric vehicle (EV) supply chain.

MIIF CEO Edward Nana Yaw Koranteng emphasized that the deal strengthens Ghana’s position as a leading destination for mining investment in Africa, reinforcing the country’s role in the growing global EV market.

Supported byElevatePR Digital

Related News

Glencore launches on-site testing of new copper leaching technology at Chile’s Lomas Bayas mine

Glencore Plc is advancing its efforts to extract more copper from lower-quality ore at its Lomas Bayas mine in northern Chile by implementing a...

BHP’s $12B Chile copper expansion plan overshadowed by labor protests

BHP's plan to invest over US$12 billion in expanding its copper operations in Chile, including projects to address declining production at its Escondida and...

Graphjet Technology opens world’s first commercial-scale green graphite facility in Malaysia

Graphjet Technology, a Malaysia-based developer of innovative technologies for producing graphite from agricultural waste, has officially begun operations at its first commercial-scale facility located...

China’s role in critical mineral supply chains: Balancing dominance, vulnerabilities and global cooperation

China is a dominant force in critical mineral refining but faces its own supply challenges, underscoring the complexities of global dependencies on these resources....
Supported by
Supported by
Supported by
error: Content is protected !!