Applied Graphite Technology Corporation (AGT) has strategically acquired the past-producing Queen's Mine in Sri Lanka, a move that significantly enhances its operational capacity and graphite production potential in the region. The acquisition was announced by AGT's CEO, Don Baxter, who revealed plans to integrate the Queen's Mine into the company's existing Queens Mine Complex. This complex is centrally located between AGT's Dodangaslanda Graphite Properties, setting the stage for a streamlined and efficient production process.
The Queen's Mine, known for its high-grade graphite veins, previously operated at a production rate of 20 tonnes per month. AGT aims to dramatically increase this output to 3,000 tonnes annually, leveraging the mine's untapped potential. Baxter pointed to the discovery of at least six graphite veins within the mine's underground workings, with a combined width of 25 meters and individual veins up to 0.4 meters thick. This finding highlights the substantial graphite reserves available, promising a bright future for AGT's operations in Sri Lanka.
Over the next three to six months, AGT will concentrate on securing exploration licenses, a crucial step towards obtaining mining rights for its properties. This approach is designed to bypass the need for negotiations with landowners, streamlining the path to production. Baxter expressed optimism about the regulatory environment in Sri Lanka, noting improvements in governmental procedures and the supportive stance of the Bureau of Mines. These factors are expected to facilitate a swift transition to full-scale mining operations, marking a new chapter in AGT's growth and contribution to the graphite industry.
For more information on AGT's operations and the significance of graphite in modern technology, visit https://www.appliedgraphite.com. The acquisition of the Queen's Mine not only underscores AGT's commitment to expanding its graphite production but also reflects the company's strategic vision for leveraging Sri Lanka's rich mineral resources to meet global demand.
