(MENAFN- ProactiveInvestors)
() has applied for a mining lease application to develop a graphite mine at the wholly-owned Kookaburra Gully project on South Australia’s Eyre Peninsula.
This follows completion of the review process by South Australia’s Department of State Development of Lincoln’s draft Mining Lease Proposal.
Kookaburra Gully has total Indicated and Inferred Resources of 2.2 million tonnes at 15.1% total graphitic carbon.
It is close to water electricity and an export port 35 kilometres away.
Marketing of its graphite will be facilitated by the newly established Qingdao International Graphite Exchange Center Co. Ltd of which is a 25% owner along with Qingdao Hainaer
Nanometer Technology Co. Ltd (PRC 48%) Pleasant King Limited (Hong Kong 25%) and FU Lei (PRC 2%).
The proposed Kookaburra Gully mining lease will be about 300 hectares in size although only about one third of that footprint will be directly impacted by mining operations.
Subject to global graphite prices a 7.5 year mine life is anticipated from an open pit mine approximately 700 metres long 270 metres wide and 90-110 metres in depth.
The open-pit will partially fill with water after mining ceases to form a lake and surrounding areas will be re-vegetated and/or restored to farm land.
Kookaburra Gully’s infrastructure will include a processing plant to upgrade the graphite ore into high grade graphite concentrate at a rate of ~25000-55000 tonnes per annum.
The enclosed processing plant including grinding mill will operate 24/7 but there will be no mining operations including primary crushing or transport operations at night.
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