- Write by:
-
Monday, October 30, 2023 - 20:19:14
-
194 Visit
-
Print
Mining News Pro - UK-based private equity fund Appian Capital Advisory is investing in Urbix, a US-based developer of graphite processing technology, and has inked a deal to develop a commercial-scale downstream processing facility.
The plant will produce coated spherical purified graphite sourced from natural graphite from Graphcoa, another company Appian invested in, which has graphite deposits across Brazil.
“This investment and joint development agreement mark a significant advancement towards establishing a vertically integrated graphite company in the Americas,” Appian chief executive Michael Scherb said in the statement.
“By establishing a strategic collaboration with Appian, we continue progressing the deployment of a US developed graphite processing technology towards commercial scale, that we expect to supplant Chinese supply of battery grade graphite,” Urbix CEO, Nico Cuevas said in a separate statement.
The company said in July it planned to be “one of the most active investors in the metals and mining space over the next few years.” It noted its targets would be commodities that are critical to society over the medium to long term, but will see structural shortages.
Among the steps taken in that direction, Appian has made two zinc acquisitions this year, including a joint venture with Osisko Metals (TSXV: OM) in May. The deal will see it earn up to 60% in the Pine Point zinc-lead project in the Northwest Territories in return for a $100 million investment.
The other was the purchase in June of the Rosh Pinah zinc mine in Namibia from Trevali Mining, which filed for creditor protection last year.
Appia’s investments in graphite come on the heels of China’s curb in graphite exports earlier this month. Some types of graphite will require export permits from December 1.
China is the world’s dominant graphite producer and exporter. It also refines more than 90% of the global supply into the material that is used in electric vehicles’ battery anodes, which is the negatively charged portion of a battery.
Short Link:
https://www.miningnews.ir/En/News/627592
Copper futures in New York rallied to a record high after a short squeeze that’s prompted a scramble to divert metal in ...
China’s CMOC Group Ltd. is being accused by a top US official of using “predatory” tactics to depress prices of a key ...
A Native American group said on Tuesday it will take its fight against Rio Tinto’s proposed Arizona copper mine to the ...
Japan’s top steelmaker, Nippon Steel, is sticking to its plan to close a deal by year-end to buy US Steel, which it ...
Nutrien, the world’s biggest fertilizer producer, beat first-quarter profit estimates on Wednesday, on strong demand for ...
Australia will spend A$566 million ($373 million) over the coming decade to map out resource deposits with a focus on ...
Equinor on Wednesday said it has entered an agreement with Standard Lithium to acquire a 45% stake in lithium projects ...
Copper briefly traded through $10,000 a ton as investors raised bets on Federal Reserve rate cuts, and Goldman Sachs ...
Albemarle, the world’s largest producer of lithium for electric vehicle batteries, could look at reducing capital ...
No comments have been posted yet ...