Sarytogan Graphite managing director Sean Gregory said: “The Sarytogan Graphite Project now takes its place as a very serious contender to play an important role in meeting the world’s energy storage needs. The physical attributes of the giant and exceptionally high-grade Sarytogan Graphite Deposit have shone through in the PFS, which envisages low costs and high margins, even at the conservative project sizing selected to minimise risk. Coupled with the recent planned investment by the European Bank for Reconstruction and Development strengthening of our balance sheet, Sarytogan is in a strong position to drive the project forward with early works on the DFS already underway.”
The company says a key to the Sarytogan project – which lies in the central Karaganda region of Kazakhstan, 400km south-east of Astana – is its proximity to both of the major European and Chinese graphite markets. The European Union’s recognition of graphite as a critical raw material in 2022 has resulted in a memorandum of understanding (MoU) with the Kazakhstan Government for battery raw materials supply, potentially further bolstering the strategic value of Sarytogan’s project.
The PFS envisions a comprehensive four-phase development plan, including an initial 50,000 tonnes per annum beneficiation plant, followed by three further expansions to enhance production capabilities. With a capex of up to US$344 million (AU$529 million) across the four stages, the project will scale in line with market demand to ensure sustained growth at the same time as creating value for shareholders by minimising dilution.
The company is already progressing towards a definitive feasibility study (DFS), with environmental permitting and further metallurgical testing underway.
With a total resource of 229 million tonnes of 28.9 per cent total graphitic carbon (TGC) for 66 million tonnes of contained graphite, Sarytogan is continuing to engage with potential partners and investors in a bid to get its project up and running. Given the expected future demand for battery metals, the size of the deposit and its proximity to the major markets, the future looks promising for the company and its mission to play a pivotal role in the global energy storage revolution.
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Source Agencies
