Sarytogan gets $2.3m Eurobank leg-up for Kazakhstan graphite

The review concluded the project contains no fatal flaws and offers considerable promise.

RPM identified some risks typical for such an early stage in the development of the project but assessed them as manageable through additional testwork and plant design modifications. This should improve confidence and its practical workability before a planned feasibility study is delivered.

Sarytogan Graphite managing director Sean Gregory commented: “The completion of the equity investment from the EBRD reaffirms the global significance of the Sarytogan graphite project. This funding allows us to accelerate the ongoing works on the definitive feasibility study for the project. The recent independent peer review of the project by mining consultant RPM Global shares our optimism for the project and is the first of many examples of the EBRD adding value to the project beyond their financial investment.”

The company proposes using its EBRD funding to pick up the pace towards a planned project definitive feasibility study, which will include ongoing work to prepare customer samples to support the company’s graphite marketing.

Additionally, the latest funding will help develop the project’s environmental and social impact assessment beyond the environmental permit received for the mine in late December.

Other works in progress include Perth-based testwork on metallurgical variability and infill drilling of the mining pits identified for the first 20 years of operation.

Water investigations are also necessary to secure the company’s water licence for the project, and power and transportation studies are aimed at securing infrastructure allocations.

The important works will preceded or be accompanied by tendering for the engineering scope of the definitive feasibility study.

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