Applied Graphite Technology Corporation (AGT) has recently acquired the past-producing Queens Mine in Sri Lanka, a move that significantly expands its operations within the region. This acquisition is set to be integrated into AGT's existing Dodangaslanda Graphite Properties, creating the Queens Mine Complex. The Queens Mine has a history of extracting high-grade graphite veins, with previous operations yielding 20 tonnes per month. AGT, however, has set its sights on a much larger scale of production, aiming for an annual output of 3,000 tonnes.
Exploration activities have already uncovered at least six graphite veins with a combined width of 25 meters, some of which are up to 0.4 meters thick. Over the coming months, AGT will focus on securing exploration licenses, a critical step towards obtaining mining rights and bypassing the need for negotiations with landowners. CEO Don Baxter has expressed optimism about the swift acquisition of a mining license, citing an improved regulatory environment in Sri Lanka and the proactive stance of the Bureau of Mines.
This strategic expansion is timely, given the growing global demand for graphite, a key material in energy storage and electronics. AGT's enhanced production capacity, coupled with Sri Lanka's mineral wealth and favorable regulatory framework, positions the company to meet this demand effectively. For more information on AGT's operations, visit https://www.appliedgraphite.com.
