Canada-based Ceylon Graphite Corp. yesterday announced the first sale of graphite from its graphite mines located in Sri Lanka, since the commencement of commercial production in December 2019.
The sale, which was for one tonne of vein graphite with carbon content of 95-97 percent, was sold to Singapore-based 2D Materials (Pte) Ltd, by Sarcon Development (Pvt.) Ltd, a wholly-owned subsidiary of Ceylon Graphite Corp.
“2D Materials purchased the graphite to evaluate it for its graphene production needs. The shipment is expected to ship immediately,” Ceylon Graphite stated in a press release.
2D Materials currently manufactures high-performance graphene as an industrial additive to enhance the properties of many industrial materials such as paints and coatings, batteries, composites, polymers and lubricants.
“We know from our own testing and the historical record of Sri Lankan graphite that we have a high-quality vein graphite. This is the next step in accelerating our production rate to enable us to fulfil the needs of multiple customers,” Ceylon Graphite CEO Bharat Parashar said.
Ceylon Graphite’s K1 mine entered commercial production in December 2019, with exploration continuing at its other selected sites. Its subsidiary Sarcon Development has control of 121 grids in Sri Lanka.
The Sri Lankan government has granted Ceylon Graphite exploration rights in a land package of over 120 square kilometres. These exploration grids cover areas of historic graphite production from the early 20th century and represent a majority of the known graphite occurrences in Sri Lanka. Graphite mined in Sri Lanka is known to be some of the purest in the world. However, it currently accounts for less than one percent of the world graphite production.The global graphite market is projected to surpass US $ 18 billion by 2022, according to market research. Ceylon Graphite aims to become a major player in this rapidly growing space. Sasha Jacob is the strategic investor of Ceylon Graphite, which is now listed on Canada’s TSX Venture Exchange. He is an emerging investor and entrepreneur in Canada, with a successful track record in financing in the renewable energy and medical cannabis sectors.