REG - Beowulf Mining PLC - Graphite Anode Materials Plant update

Beowulf MiningAnnouncement

10/06/2024 07:00

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RNS Number : 6968R  Beowulf Mining PLC  10 June 2024

 

 

10 June 2024

 

Beowulf Mining Plc

 

("Beowulf" or the "Company")

 

Graphite Anode Materials Plant update

 

 Beowulf (AIM: BEM; Spotlight: BEO), and its wholly owned Finnish subsidiary
Grafintec Oy ("Grafintec"), are pleased to provide an update on test-work for
the Graphite Anode Materials Plant ("GAMP").

 

 

Highlights

 

·    Battery grade graphite produced from ongoing graphite anode materials
test-work

·    GAMP process flow-sheet under development by Grafintec and Dorfner
Anzaplan GmbH ("Anzaplan")

·    Optimisation work results in significant reduction in reagent and
energy consumption

·    Test-work results will serve as input parameters for the ongoing
Pre-Feasibility Study ("PFS") and Environmental Impact Assessment ("EIA") for
the GAMP

 

 

Ed Bowie, Chief Executive Officer of Beowulf, commented:

 

"Test-work is advancing at pace with results exceeding our expectations. We
have produced an extremely high-grade anode material and, at the same time,
managed to reduce the consumption of both energy and reagents in the process.
These results bode very well for the forthcoming PFS and EIA."

 

 

Rasmus Blomqvist, Managing Director of Grafintec, commented:

 

"I am very pleased with the results from the latest test-work. The tests have
demonstrated a robust process which can produce a graphite anode product with
a purity of 99.99%, exceeding the typical industry requirements of 99.95%, at
the same time as significantly reducing the process consumables. The optimised
process will result in lower operating costs and produce less waste, and will
therefore have a positive impact on the ongoing PFS and EIA.

 

"With a number of ongoing work-streams we look forward to updating the market
in the coming months."

 

 

GAMP Testwork Update

 

Grafintec has completed a series of bench-scale tests on graphite concentrate
to produce graphite anode material suitable for application in Lithium-Ion
Batteries ("LIB"). The aim of the tests has been to optimise the GAMP process
flow-sheet developed together with Grafintec's engineering partner Anzaplan.

 

GAMP Process

 

The GAMP Process is a three-step process where imported Mined Graphite
Concentrate will be used to produce Coated Spherical Graphite ("CSPG") (See
Figure 1). The process involves the following main steps:

 

·    Spheronisation - the spheronisation process produces rounded graphite
particles using a combined mechanical spheronisation and classification unit.

·    Purification - the purification process uses a hydrometallurgical
process flow-sheet developed by Grafintec in partnership with Anzaplan to
produce high purity spheronised graphite ("SG") product.

·    Coating - the purified SG is blended with petroleum needle coke and
heated in a furnace to form a thin layer of carbon material around the
purified SG forming CSPG.

 

The CSPG is then sold to Anode- and/or Battery manufacturers.

 

 

 

Figure 1: GAMP Process

 

Focus of test-work

 

The focus of this phase of test-work included the following:

 

·    Spheronisation: to produce a high-yield of SG with high tap density.

·    Purification: to produce a battery-grade product with a minimum 99.95
per cent. graphitic carbon ("Cg") content.

·    Optimisation: to reduce reagent and energy consumption in the
purification process and thus reduce the operating costs and the potential
environmental impact of the process.

·    Scalability: to develop a robust process that can be replicated for
up-scaled test-work, provide input parameters for the PFS and EIA and
ultimately to be developed on an industrial scale.

 

Spheronisation test results

 

The targets for the spheronisation tests were to produce two products, a
medium SG product of 18 microns ("SG18") with a minimum yield of 50 weight
("wt.") per cent. and a fine SG product of 8 microns ("SG8") with a minimum
yield of 10 wt. per cent. The SG18 fraction is the more important product and
is typical for use in batteries for Electric Vehicles, whereas the SG8 product
is more typically used for Hybrid Vehicle and Consumer Electronics battery
applications.

 

Tap density is related to the shape and roundness of the particles and is a
key parameter for the performance of graphite material in battery
applications. The test-work successfully produced SG18 with a tap density of
0.95 grammes per centimetre cubed ("g/cm(3)") (target >0.95 g/cm(3)) and
SG8 of 0.84 g/cm(3) (target >0.83 g/cm(3)).

 

The yield of the process reflects the percentage of product produced from feed
material and is therefore a measure of the overall efficiency. While the yield
of the SG18 was 48.3 wt. per cent and slightly below the target of 50 wt. per
cent., the target for the SG8 (10 wt. per cent) was exceeded with a yield of
12.7 wt. per cent. Therefore, the combined yield for the two products of 61
wt. per cent exceeded the combined target of 60 wt. per cent.

 

The SG18 product was used as feed for the subsequent purification test-work.

 

Purification test results

 

The purification process aims to increase the Cg content of the SG from
approximately 95 per cent Cg to a minimum of 99.95 per cent Cg which is the
typical industry requirement for battery-grade graphite.  The bench-scale
tests successfully produced a purified SG product of 99.99 per cent Cg well
exceeding the battery-grade target.

 

Optimisation work on the process also reduced the reagent and energy
consumption significantly, compared to previous test-work undertaken by
Grafintec and Anzaplan, which will have a positive impact on the operating
costs, production of waste material and therefore potential environment
impacts of the process. The main chemicals sodium hydroxide and sulphuric acid
used in the process were reduced by 25 per cent. and 82.5 per cent.
respectively. In addition, the sodium hydroxide baking temperature was reduced
by 33.3 per cent. from previous test-work. The combined impact of the reduced
temperature and reagents results in an estimated 45 per cent. reduction in
operating costs.

 

 

Ongoing Work and Next Steps

 

Grafintec and Anzaplan are currently producing additional purified SG based on
the optimised process for Coating to produce CSPG. The Coating process is the
final stage in the production of graphite anode materials and is carried out
to further improve the electro-chemical and physical performance of the anode
material.

 

A variety of workstreams are also ongoing to test the recyclability of the
reagents used in the process to further decrease the overall reagent
consumption and thus improve project returns.

 

The results from completed and ongoing workstreams are important input
parameters for the ongoing PFS and EIA workstreams.

 

 

Enquiries:

Beowulf Mining plc

Ed Bowie, Chief Executive
Officer
ed.bowie@beowulfmining.com

 

SP Angel

(Nominated Adviser & Joint Broker)

Ewan Leggat / Stuart Gledhill / Adam Cowl           Tel: +44 (0) 20
3470 0470

 

Alternative Resource Capital

(Joint Broker)

Alex
Wood
Tel: +44 (0) 20 7186 9004

 

BlytheRay

Tim Blythe / Megan Ray
 
Tel: +44 (0) 20 7138 3204

 

 

 

Cautionary Statement

 

Statements and assumptions made in this document with respect to the Company's
current plans, estimates, strategies and beliefs, and other statements that
are not historical facts, are forward-looking statements about the future
performance of Beowulf. Forward-looking statements include, but are not
limited to, those using words such as "may", "might", "seeks", "expects",
"anticipates", "estimates", "believes", "projects", "plans", strategy",
"forecast" and similar expressions. These statements reflect management's
expectations and assumptions in light of currently available information. They
are subject to a number of risks and uncertainties, including, but not limited
to , (i) changes in the economic, regulatory and political environments in the
countries where Beowulf operates; (ii) changes relating to the geological
information available in respect of the various projects undertaken; (iii)
Beowulf's continued ability to secure enough financing to carry on its
operations as a going concern; (iv) the success of its potential joint
ventures and alliances, if any; (v) metal prices, particularly as regards iron
ore. In the light of the many risks and uncertainties surrounding any mineral
project at an early stage of its development, the actual results could differ
materially from those presented and forecast in this document. Beowulf assumes
no unconditional obligation to immediately update any such statements and/or
forecast.

 

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