Evion Group NL (ASX:EVG) has lauded solid progress made on pre-construction work at the Panthera expandable graphite joint venture (JV) project in Kurkumbh, India, which has cleared the way for graphite production later in the year.
Evion is developing Panthera with JV partner Metachem Manufacturing Co Pvt Ltd and executives from both parties recently completed a site visit.
Site work progress has paved the way for construction of the main building and plant installation, prompting EVG to secure long-lead plant and equipment to be installed over the new few months.
On track for production in December quarter
"Our recent site visit confirms that the Panthera project is well on track for production and cashflow in the December quarter,” Evion Group managing director Tom Revy said.
"Engineering and site works are progressing rapidly, ensuring that the project is well-placed to capitalise on the growing demand for expandable graphite.
"All the project's production is covered by a binding offtake agreement which will provide immediate cash flow.
"Panthera will also provide a firm, reliable market for graphite concentrate from our Maniry mine in Madagascar once that is in production, further underpinning Evion's vertical integration strategy in the graphite industry.”
Read: Evion Group inks pivotal deal to supply 40% of Maniry’s graphite to Urbix's battery anode plant
EVG’s project will be further underpinned by a large investment in solar energy, which the company expects will meet 70% of the site’s total power needs.
Panthera JV development site in Kurkumbh, India.
The project is being developed at Kurkumbh Industrial Park, about 200 kilometres east of Mumbai, which provides infrastructure, and access to advanced technology and a highly educated labour market.