Castle opens drawbridge for Kambale Graphite opportunity

Castle Minerals (ASX:CDT) has confirmed through electrochemical testwork that natural flake graphite gathered from its Kambale Graphite Project in Ghana is suitable for manufacturing lithium-ion battery anodes and other battery formats. 

The $7.95 million market capitalisation company says this is another landmark development for the project, which Castle has rapidly progressed over the past 2 years. 

Managing Director Stephen Stone says recent meetings with the Ghana government has confirmed ‘strong’ support for the project as part of its broader ambition to establish West Africa’s first critical minerals hub.   

“We are extremely pleased that recently completed electrochemical tests have confirmed Kambale graphite’s status as a very attractive base for the manufacture of lithium-ion electric vehicle battery anodes and a range of other high-value primary and secondary applications. 

Purified Kambale graphite met a range of chargeability, stability and other critical performance benchmarks during tests undertaken in an accredited facility in Germany. 

Castle’s view remains that the graphite market is fundamentally very robust and graphite is definitely a commodity to watch this year and into the longer term.”

To date, the company has confirmed an open-ended 22.4 million tonne resource (JORC 2012) grading at 8.6% total graphitic carbon (TGC) containing 1.9 million tonnes of graphite; demonstrated that mined material can be upgraded using a conventional flowsheet to a valuable and saleable 95% loss of ignition (LOI) concentrate; and purified the natural flake concentrate to an above benchmark of 99.97% LOI. 

According to Castle, yesterday’s (12 March 2024) results demonstrate a range of key charging, stability, and other performance benchmarks at a time of increasing third party offtake deals between non-Chinese upstream and downstream companies, highlighting China’s supply dependency concerns. 

Both the US and European Union have established billion dollar initiatives to help develop independent supply chains of critical minerals, such as graphite. 

Therefore, Castle believes Kambala is well-timed and well-placed to feed into these emerging supply chains as a presently uncommitted supplier of high value graphite products. 

Castle Minerals is a Western Australia-headquartered company with interests in several projects in Ghana and Western Australia that are prospective for battery metals, base metals, and gold.

The project was founded in the 1960s by Russian geologists prospecting for manganese.  

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Images: Castle Minerals
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Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.