Business
New Destiny Set to Exploit the Massive Potential of The Explosive Growth in The Green Energy Market Via the Indigo Graphite Project in Southern Quebec
VANCOUVER, BC / ACCESSWIRE / March 6, 2023 / New Destiny Mining Corp. (TSXV:NED) , (the " Company...
About this update from New Destiny Mining Corp.
[{"type":"text","content":"New Destiny Set to Exploit the Massive Potential of The Explosive Growth in The Green Energy Market Via the Indigo Graphite Project in Southern QuebecVANCOUVER, BC / ACCESSWIRE / March 6, 2023 / New Destiny Mining Corp. (TSXV:NED), (the \"Company\" or \"NED\") is excited to announce that the Company is positioning itself to be a significant player in the severely undersupplied graphite market, a critical component in batteries for electric vehicle and rapidly growing residential and industrial uses.The Global Graphite Market is showing an exponential increase in demand and insufficient graphite deposit discoveries and development to satisfy it. It has been projected that the graphite industry needs 97 new mines to meet the expected demand by 2035.The key drivers of graphite demand will be refractories and foundries, as well as battery demand. Auto makers are looking to cut costs and diversify the supply base away from China. Further, graphite used in the batteries that are essential to electric vehicles (\"EVs\") makes up the largest proportion of the composition of EVs' batteries whereas other minerals and materials represent significantly smaller role in the battery composition. Graphite represents 48% of the EV battery components as compared to another critical mineral, lithium which makes up only 6% of the batteries.The following graphs shows both the exponential increase in demand for EV battery anodes and the resulting shortfall of graphite supply for this demand*. *Source: Benchmark IntelligenceNew Destiny is tapping into the huge market demand for graphite by securing a 100% interest in the Indigo Graphite Property (or the \"Indigo Claims\") from a private company, Lumin Graphite Corp. (\"Lumin\" or the \"Optionor\"). The Indigo Claims provide the Company with the opportunity to expeditiously replicate the exploration and development success that has allowed Nouveau Monde (TSXV: NOU) to bring its Matawinie graphite deposit to near-production. The two deposits are less than 60 km apart.Nouveau Monde has a market capitalization of over $400 million and is set to begin mining operations at its Matawinie Graphite Deposit in 2024. Nouveau Monde's Matawinie project has an NI 43-101 resource of: *Mineral resource estimate from 43- technical report titled \"NI -101 TECHNICAL FEASIBILITY STUDY REPORT for: The Matawinie Mine and B...