Last quarter Beowulf Mining announced it’s wholly owned subsidiary Grafintec Oy had been granted an extension of the advance reservation for Plot 1, Block 3017 in the GigaVaasa area. The plot will be used for the establishment of the Graphite Anode Materials Plant.

Beowulf has been progressing the first stage of design for the PFS for the Graphite Anode Materials Plant, expected to be released Q3 2023 and Grafintec has begun workstreams for the EIA. Both of these projects aim to fast-track the establishment of the Plant.

The progress made in the GigaVaasa area moves Grafintec and BEM towards the objective of becoming one of Europe’s first producers of graphite anode materials for the European Battery market.