Battery Minerals has achieved key milestones at its Montepuez graphite project in Mozambique, with steady progress going across all its construction works.
The company has completed building the permanent 100-person accommodation camp. Battery Minerals expects to commission the water treatment facility, electrical fit-out and sewage system in early November.
The construction of its tailings storage facility wall keyway, curtain drains and decant area has also been completed. Other site earthworks, road construction and the installation of culverts were reported to be progressing well.
Additionally, the company has appointed Origin Capital as financial adviser to advance its funding strategy and seek for potential debt providers.
To support this process, a due diligence review of the Montepuez project – including a site visit and technical assessment – will be conducted.
Company managing director David Flanagan said strong progress was concurrently being made at Montepuez on several fronts.
Flanagan said, “We want to ensure that we are in production when the demand and price of graphite takes off. That’s why we have moved to secure project funding with the appointment of finance specialists Origin Capital and complete key project construction milestones on site.”
He believed that Montepuez was able to capitalise on the lithium battery boom due to the operation’s low-cost base, simple processing route and offtake agreements.
As part of Montepuez’s community project, Battery Minerals is building a community school at a nearby village, and has renovated the local health clinic and installed five water bores and pumping stations.