DISCLAIMER: GOLDINVESTMENTCOMPANIES.COM IS AN AFFILIATED PARTNER FOR GOLDCO PRECIOUS METALS, AUGUSTA PRECIOUS METALS, AND BIRCH GOLD GROUP, PROMOTING THEIR GOLD IRA, GOLD 401K TRANSFER AND BITCOIN IRA SERVICES AND PRODUCTS.
#SouthStarBatteryMetals (TSXV:STS,OTCQB:STSBF) CEO Richard Pearce believes that graphite is going to play a significant role in the #EVmarket and he’s excited to have a project that’s getting ready for construction and be part of the battery metals supply chain.
“When you look out across the EV space and batteries for energy storage, graphite is going to play a significant role. I don’t see anything really replacing graphite in my lifetime. I think the supply chain is going to be one of those things that we’re constantly doing battle with here over the next 357 years. There’s going to be a large demand for really high quality materials across the board. We’re just excited to have a project that’s getting ready to start construction, and then we can scale it up from there,” said Pearce.
South Star is stepping up production in three phases, after it received approval from the Brazilian Mining Authority in February 2022, for the final exploration reports for the remaining 6 of the 13 claims of the Santa Cruz Graphite Mine in Brazil. The company plans to set up a pilot plant to produce 5,000 tonnes per year in phase one, 25,000 tonnes per year in phase two, and 50,000 tonnes in phase three.
“We set this kind of phased approach in place so we can get our material into the marketplace, develop those important commercial relationships, qualify for planning on toll milling 300 to 500 tons of our first year’s production, and upgrade into value added material. The phased approach is a smart way to allocate capital and diminish risks. We’re super excited again to have the project that’s construction ready and fully permitted. And we should start construction here in the next month and a half.”
According to Pearce, the company plans to start with the pilot plant that allows its materials to get into the marketplace. South Star further looks at their production to be tied in with the offtake agreement. Phase two and phase three will be based on part commercial terms with real volumes and real place pricing in place.
“Our goal is to sell into industrial applications and into expandables. We want to be very diversified in both our products as well as in our clients and sectors. It took us just over a decade to get it ready to go. We’re fully licensed, permitted, and construction ready. I think it’s a fantastic time for Southstar to have a scalable mind that is basically ready.”
Investing News Network (INN)
Find out more about investing by INN @
Want a FREE investor kit? Download here↓
Follow us Facebook:
Follow us on Twitter:
The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.