Business
South Star Announces Additional Sales of Natural Flake Graphite Concentrate to U.S. Customer
Advancing the First New Natural-Flake Graphite Mine in the Americas this Century VANCOUVER, ...
About this update from South Star Battery Metals Corp
[{"type":"text","content":"South Star Announces Additional Sales of Natural Flake Graphite Concentrate to U.S. CustomerAdvancing the First New Natural-Flake Graphite Mine in the Americas this Century VANCOUVER, BC / ACCESSWIRE / August 6, 2024 / SOUTH STAR BATTERY METALS CORP. (\"South Star\" or the \"Company\") (TSXV:STS)(OTCQB:STSBF) is pleased to announce that, further to the Company's May 6, 2024 announcement (\"South Star Battery Metals Announces the First Sale of Natural Flake Graphite Concentrate from its Santa Cruz Graphite Mine in Brazil\") and its August 1, 2024 announcement (\"South Star Announces Successful Product Qualification and 100-Tonne Sale of Natural Flake Graphite Concentrate to U.S. Customer\"), South Star has executed another binding commercial sales agreement (the \"Agreement\") for an initial 40 tonnes (more than 88,000 pounds) of natural-flake graphite concentrate from the Company's flagship Santa Cruz Graphite Mine(\"Santa Cruz\"), located in northeastern Brazil's Bahia state. This most recent sales Agreement was formally executed with a prominent American industrial graphite customer (the \"U.S. Client\").The U.S. Client has also expressed interest in negotiating regular purchases, pending positive test results for specific applications. For competitive reasons, the U.S. Client's identity and commercial details of the Agreement will remain confidential.As announced by the Company on July 29, 2024 (\"South Star Announces Substantial Completion and Commissioning of the Santa Cruz Phase 1 Graphite Mine in Brazil\"), South Star is on schedule to commission the Santa Cruz Phase 1 Plant during Q3 2024. Once commercial production commences, Santa Cruz will be the first new graphite mine in the Americas this century. At steady-state, the Phase 1 Plant will produce approximately 1,000 tonnes per month/12,000 tonnes per annum of natural-flake graphite concentrates. South Star plans to fulfill initial sales agreements in Q4 2024.South Star President and CEO Richard Pearce stated, \"We are extremely pleased to continue to develop long-term partnerships in the U.S. as we continue to execute on our business plan. South Star's phased commercialization approach is predicated on effectively leveraging our first-mover advantage, providing our customers with a broad range of products for a variety of industry sectors and applications.\"\"As part ...