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South Star Battery Metals (TSXV:STS,OTCQB:STSBF) is on track to commence production at its Santa Cruz graphite project in Brazil and expects the mine to be operational by the end of 2023.
“We have a very large land package, it’s very expandable. So we think this is really something that in the next two or three years can be all the way up to 50,000 tonnes of (graphite) concentrate,” said Richard Pearce, president and CEO of South Star Battery Metals Corp.
Graphite is poised to take its rightful place in the battery metals stage as the global green energy transition ramps up.
“Lithium, and maybe one or two other battery metals, have kind of frontrun the others, but I think now really is a time where graphite, as well, is going to be a critical piece of the puzzle that has to be resolved,” said Pearce.
Construction at South Star’s Santa Cruz graphite project, located in Southern Bahia in Brazil, began in June 2022. Brazil is the second-largest graphite-producing region in the world with more than 80 years of continuous mining history.
South Star’s second graphite project, located in Alabama, USA, is only about three years behind where the Brazil project is at, Pearce said.
“Between the two projects, we’re basically looking at 100,000 tonnes of (concentrate) and ultimately feeding… that production into a value-add plant, probably likely somewhere in that southeast corridor of the US that then can be used to supply lithium-ion batteries, EVs, battery packs for power tools, etc.,” said Pearce.
He added the company aims to get a 43-101 resource estimate for the Alabama project by the first quarter of 2023.
“It takes 10 to 12 years to get a mine from concept through paper and actually into production. So being the first new production in the Americas, I think we’re well-positioned to really take advantage of that moment and really be a benefit to shareholders, stakeholders, potential clients,” Pearce said.
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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.