Evolution Energy Minerals Ltd (ASX:EV1) is undertaking a commercial verification program with a US battery manufacturer to evaluate the suitability of graphite flake from the flagship Chilalo Graphite Project in Tanzania for coated battery anode materials.
Evolution now has the option to target both the premium performance battery market and nuclear-grade graphite market due to the very low levels of naturally occurring molybdenum and boron in Chilalo graphite concentrate. Both applications require very high purity graphite (99.95% and 99.995% C respectively).
The company and its US technology partner will use environmentally friendly thermal purification as the first step in its flowsheet to produce battery anode materials.
Premium price on battery and nuclear graphite
“It is very pleasing that the exceptionally low molybdenum and boron content of Chilalo graphite opens two pathways for use of our graphite in value-added markets: a range of premium performance batteries, where extremely low concentrations of molybdenum are a prerequisite, and nuclear-grade graphite, which requires naturally low levels of boron,” Evolution Energy Minerals managing director Phil Hoskins said.
“Our US technology partner will aim to use advanced technologies to build on this foundation, to size, shape, coat and otherwise process our premium-quality flake graphite and turn them into battery and nuclear industry-ready graphite commanding premium prices.”
Purified graphite with low molybdenum impurities used in advanced battery industry applications currently sells for between A$11,700 (US$8,000) and A$26,500 (US$18,000), a material mark-up compared to uncoated spherical graphite at A$4,400 (US$3,000).
In comparison, qualified purified graphite for the nuclear industry, which requires an even higher level of purity, sells for about A$44,000 (US$30,000).
The test-work for battery anode manufacturing is already underway, with results to be reported to the market over the coming weeks.