Sovereign Metals presented its low carbon footprint Kasiya graphite at the UK House of Parliament Roundtable on behalf of the Critical Minerals Parliamentary Group, with the Critical Minerals Association.
The mining group predominantly highlighted the Kasiya graphite’s potential for applications in lithium-ion batteries, which is currently the main market for coarse flake graphite, and traditional industrial applications.
The company noted that the product from its Kasiya mine in Malawi was a quality resource as a result of its high purity and high crystallinity, which is crucial for the material to be upgraded to the minimum 99.95% TGC for lithium-ion battery anodes.
Sovereign Metals estimated that the battery sector is set to be the greatest driver for graphite demand by 2028, with the commodity making up as much as 50% of the average lithium-ion battery composition.
#SVML RNS out!
— Sovereign Metals (@sovereignmetals) March 31, 2022
Thanks to @CMA_Minerals for organising the #graphite roundtable at @UKParliament. $SVM outlined how its low-carbon potential graphite could supply the UK’s needs for #lithium ion #batteries #ESG #Sustainability #CO2 #BatteryMetals https://t.co/0UfA4gzQAB pic.twitter.com/feeYSn68wm
The mining firm said it was capable of producing high-quality coarse flake graphite with a substantially lower carbon footprint than China, where over 75% of the global supply for natural graphite is currently sourced.
The company noted that the graphite from its Kasiya project held an 80% lower greenhouse gas emissions trail than graphite produced in the Heilongjiang Province in China, adding that each tonne of product would produce only approximately 0.2 tonnes of carbon emissions.
“The importance of sustainable supply chains for clean-tech solutions such as lithium-ion battery powered electric vehicles cannot be underestimated,” said Sovereign Metals Chairman Ben Stoikovich.
“As such, Kasiya could become globally strategically important as it has the potential to supply not one, but two, critical raw materials to world economies looking at building a sustainable future and tackling climate change.”
Sovereign Metals shares rose 5.4% to 33.7p in early morning trading on Thursday following the announcement.
