Santa Cruz is scheduled to finish the Part 1 plant development in June 2024, adopted by an estimated six weeks of commissioning and manufacturing ramp-up.
The present Part 1 plant can produce roughly 1,000 tonnes month-to-month as soon as steady-state operations are reached, the corporate stated. In February, it acquired environmental approval for Phases 2 and three for the mine.
Brazil is the second-largest graphite-producing area on this planet, having greater than 80 years of steady mining.
Santa Cruz has at-surface mineralization in friable supplies, and profitable large-scale pilot-plant testing (>30 tonnes) has been accomplished. The corporate’s testing outcomes present that roughly 65% of graphite focus is +80 mesh with good recoveries and 95%-99% graphitic carbon.
Santa Cruz would be the first new graphite producer within the Americas since 1996. Part 2 manufacturing (25,000 tonnes each year) is partially funded and deliberate for 2026, whereas Part 3 (50,000 tonnes each year) is scheduled for 2028.
Shares of South Star rose 14% by midday EDT. The corporate has a market capitalization of C$34.7 million ($25.3 million).