Archer Exploration moved a step closer to mining graphite on the Eyre Peninsula with the acquisition of land occupied by the Campoona resource.
The graphite explorer announced it had executed the final Sale and Purchase Agreement for land occupied by the Campoona Shaft graphite deposit, located in South Australia.
The company will now apply to the District Council of Cleve to subdivide a large parcel of land, which is owned by local landowners, in order to transfer the title for Campoona to Archer Exploration.
Archer managing director Gerard Anderson said the final sale documentation was a crucial step in the development of the Campoona Graphite project, and thanked the community of Cleve for their support.
“Archer could not have progressed Campoona as quickly as it has without the support of all local landowners and the Cleve Community,” he said.
Anderson said the company would lodge the Campoona mine lease proposal within the next week.
Recently Archer revealed results of testing conducted by the CSIRO which showed ultra-pure graphite from the Campoona resource was suitable for the modern lithium-ion battery market, meaning it would attract premium prices.
The company expects to produce 10,000 tonnes of battery-grade product from Campoona Shaft each year, over a mine life of 13 years, with mining to then move to Central Campoona.