Spurred on by a better price and market outlook for graphite, ASX-listed explorer, Castle Minerals has dusted off an old “sleeper asset” and says it will undertake a reappraisal of its Kambale graphite project in Ghana, West Africa. The Perth-based company plans to fire up the excavator to dig up bulk samples for metallurgical test work and other studies as it looks to investigate possible commercial options for the project.
The reassessment of Kambale aligns with what Castle says are improved market prices for graphite concentrates and a positive outlook for the commodity. According to the company, the healthier market conditions are underpinned by graphite’s use in the manufacture of lithium-ion batteries, which are being increasingly used in electric vehicles, consumer electronics and other electricity storage applications.