First Graphite completes construction of pad for headframes ahead of mine development start-up in early 2016
First Graphite (ASX: MRF) is pleased to advise it is firmly on track to start high-grade graphite mine development at its Aluketiya project in Sri Lanka in the March quarter of next year, with the cement pad for the shaft headframe now completed.
First Graphite will now proceed immediately with construction of the headframe as part of its strategy to become one of the highest-grade graphite producers in the world from early next calendar year.
To help ensure this strategy is executed, First Graphite has appointed highly experienced resources executive and mining engineer Phil Welten as country manager in Sri Lanka.
Mr Welten has held numerous senior operational positions both in Australia and overseas with companies including Western Mining Corporation, Lihir, Kalgoorlie Consolidated Gold Mines and Robe River Iron Associates.
Mr Welten has over 36 years’ experience if the resource industry and has operated in several overseas posts. He holds a Bachelor of Applied Science – Mining Engineering from the Western Australian School Of Mines as well as a First Class Mine Manager’s Certificate of Competency. He is a Member of The Australian Institute of Mining and Metallurgy.
His appointment comes as First Graphite continues to grow its holding of high-grade graphite acreage, securing a further 127sqkm of exploration tenements close to its existing projects.
First Graphite Managing Director Craig McGuckin said the final pieces of the Company’s mine development strategy were being put in place.
“We are on the cusp of becoming one of the highest grade graphite producers in the world, with strong cash flow and immense growth potential based on the extensive acreage we have assembled in Sri Lanka,” Mr McGuckin said.
“Our vein graphite has spectacular grades of up to 93 per cent total graphitic carbon, providing us with a negligible waste-to-ore ratio and a product which requires little processing.
“This will enable us to minimise both capital and operating costs and maximise cash flow.”
First Graphite aims to establish up to 20 such shafts producing high-grade graphite over the next two years.
