BlackEarth eyes China offtake for Madagascar graphite

BlackEarth Minerals has engaged Australia Mineral & Resources, or “AustMin”, to provide consultancy services relating to offtake, funding, development and general collaboration in China for its flagship Maniry graphite project in Madagascar.

AustMin will help build awareness of the company by positioning Maniry as a potential supplier of high-quality natural graphite concentrate.

It will also introduce BlackEarth to the leading natural graphite companies operating in upstream and downstream industries and will facilitate and advise the company on contractual outcomes in relation to negotiations with Chinese parties.

AustMin founder and chairman Eileen Hao is a graphite specialist with significant experience working in industrial minerals, metals and applications.

She has held senior management roles and provided technical and commercial consultancy services to graphite companies such as Syrah Resources, Imerys and Superior Graphite.

Ms Hao has also been instrumental and successful in representing, establishing and securing offtake agreements and strategic partnerships for several other Australian companies.

BlackEarth Managing Director Tom Revy said: “The contracting of Ms Eileen Hao is an important step for the company in becoming a leading developer and supplier in the global graphite industry.”

“With her substantial industry experience in providing consultancy services to leading global graphite companies, BEM is confident that Ms Hao will provide the company with significant technical and commercial value in terms of positioning and utilising her contacts to promote the BEM business in the Chinese market.”

Maniry currently holds a JORC-compliant mineral resource of 20.2 million tonnes grading 6.51% total graphitic carbon, or “TGC”, which encompasses the Razafy and Haja graphite deposits.

Mineralisation at the Razafy deposit extends over a strike length of more than 5km with recent trenching returning assays of 52 metres @ 7.03% TGC, which incorporated 2m @ 10.3% TGC, and 2m @ 10.2% TGC.

A scoping study completed in January this year outlined an initial ten-year mine life operation and pre-tax NPV of USD$103m and IRR of 42%, with payback in just under three years for the proposed Stage 1 development.

The company also has the Ianapera project that is just 10km north-northeast of TSX-listed NextSource Minerals’ undeveloped Molo graphite project that hosts a mineral resource of 141.3 million tonnes @ 6.13% TGC.

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