April 3, 2014 (Source: ABC News) – Mining operations have returned to South Australia’s Lower Eyre Peninsula, with the reopening of the Uley graphite mine.
The mine has been idle since 1994, when low graphite prices caused its closure.
Its reopening by Valence Industries reportedly makes it the only operating graphite mine in Australia.
The company’s managing director, Christopher Darby, says processing of existing stockpiles has begun, with full production expected by August in what should be a significant boost for the region.
Subscribe here to receive free daily InvestorIntel updates Sign Up “We’ve had such strong support from the local community,” he said.
“What we really like is the fact we’re working off a strong base of a facility that’s been there since the late 1800s, so what we really are doing is bringing that production capacity and all those jobs back to the local community.”
Mr Darby is touring the Asia/Pacific region, negotiating sales.
He says there is increasing demand for graphite but falling production, particularly in China.
“So those two things are really acting in favour of this being a highly successful process,” he said.
Graphite is used in products including brake linings, batteries and lubricants.
- See more at: http://investorintel.com/graphite-graphene-press/uley-graphite-mine-getting-back-business/#sthash.c5C1r98K.dpuf
VXL Price at posting:
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