REG - Beowulf Mining PLC - Graphite Anode Materials Plant update

Beowulf MiningAnnouncement

28/08/2024 07:00

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RNS Number : 8983B  Beowulf Mining PLC  28 August 2024

 

 

28 August 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 the ongoing
optimisation work for the Graphite Anode Materials Plant ("GAMP" or the
"Project").

 

 

Highlights

 

·    Water treatment flow-sheet to recycle sodium hydroxide ("NaOH")
developed by Grafintec in partnership with Dorfner Anzaplan GmbH ("Anzaplan")

·    Water treatment process recovered more than 90 per cent of the NaOH

·    Recycled NaOH of high quality and suitable for reuse in GAMP for
production of battery-grade graphite (>99.95 per cent graphite purity)

·    High-quality calcium carbonate ("Lime") produced as by-product from
the process can be used for neutralisation of the acidic wastewater and
potentially sold to other industries

·    The ability to recycle and reuse NaOH, the primary reagent in the
purification process, decreases its overall consumption thereby reducing both
the operating cost and environmental impact

 

 

Ed Bowie, Chief Executive Officer of Beowulf, commented:

 

"Excellent progress continues to be made at GAMP. With much of the technical
work relating directly to the production of anode material well-advanced,
recent activities have been focused on optimisation work and secondary
workstreams such as the treatment of process water and the recycling reagents.
The results for the recycling of NaOH, at over 90 per cent, have exceeded
expectations and have a very positive impact on the overall Project by
reducing both the input reagent costs and the environmental impact."

 

"With a busy time ahead progressing the Pre-Feasibility Study ("PFS") and
Environmental Impact Assessment ("EIA") for the GAMP, we look forward to
updating the market in the coming months"

 

Rasmus Blomqvist, Managing Director of Grafintec, commented:

 

"I am very pleased with the progress we have made over the recent months,
demonstrating not only that our proposed GAMP process can produce high-quality
anode materials, but also that recycled reagents from the purification process
can be reused. This recycling reduces the overall consumption of reagents,
reducing cost and our environmental footprint. Sustainability is a
prerequisite for the successful development of any industrial or mining
project and the recent work undertaken by our team and partners demonstrates
that the environmental impact can be significantly reduced by innovative
thinking."

 

 

 

GAMP Water Treatment Test-work Update

 

Grafintec has, in partnership with Anzaplan, developed a flowsheet for the
treatment of wastewater from the graphite purification process. The focus of
the wastewater treatment was to demonstrate that NaOH, the main reagent, can
be recycled and is suitable for reuse in the process. The results from the
bench-scale testing demonstrate that the water treatment flowsheet can
successfully concentrate more than 90 per cent of the NaOH from the caustic
wastewater. Further, additional purification tests on spheronised graphite
using recycled NaOH produced battery grade graphite of 99.96 per cent fixed
carbon.

 

The water treatment process also produces Lime which is needed for the
neutralisation of the acidic wastewater stream from the sulphuric acid
purification step. The Lime produced from the caustic wastewater treatment
process was successfully tested for neutralisation of the acidic wastewater.
After neutralisation, the acidic wastewater was blended with the treated
caustic wastewater and analysed at Anzaplan's laboratory. The analysis of the
wastewater confirms that the most critical chemical and physical properties
are well below general limits for wastewater discharge into Finnish municipal
sewage systems.

 

Whilst a proportion of the Lime produced from the wastewater treatment process
will be used for the neutralisation of acidic wastewater, the test-work also
demonstrated that excess Lime is produced in the process. The Lime has been
analysed and compared to commercial technical grade products and shows only
minor differences in the chemical composition of the two products.  It can
thus be assumed that the excess Lime can potentially be sold to other markets
and generate additional income for the Project.

 

The positive results and findings from the water treatment process are
expected to have positive impacts on the PFS, EIA and environmental permitting
processes for GAMP.  The high concentration of recycled NaOH and Lime
significantly reduces the need to add fresh NaOH and Lime to the process, thus
reducing the reagents costs and potentially offsetting part of the cost
related to wastewater management. It is also likely to have a significant
positive impact on the sustainability of the Project. The production of NaOH
and Lime is associated with high carbon footprint and therefore by reducing
the use of fresh reagents, the overall greenhouse gas emissions of the Project
will be significantly reduced.

 

 

EU Critical Raw Materials Act and Strategic Projects Application

 

On 23 May 2024, the European Union's ("EU") Critical Raw Materials Act
("CRMA") was enacted. The goal of the CRMA is to strengthen the critical raw
materials value-chain within the EU by diversifying imports, reducing and
monitoring strategic supply-risk, and enhancing the sustainability and
circularity of the raw-materials value-chain. The CRMA has set a target that
by 2030, 40 per cent of all processed critical raw-materials used within the
EU are produced by the EU, and that 10 per cent of the critical raw-materials
used are extracted from within the EU. To reach the CRMA targets, a regulatory
framework, known as the Strategic Projects framework, has been developed. A
Strategic Project application process has been drawn-up by the European
Commission with the intention that successful projects will benefit from
access to faster permitting processes and additional sources of capital.

 

The first call for applications for Strategic Projects was issued on 23 May
2024 with the first deadline date on 22 August 2024. A second call for
applications for Strategic Projects is planned for early 2025.

 

Grafintec intends to complete the PFS and EIA for GAMP, demonstrating the
technical viability of the Project, and apply for Strategic Project status in
2025. The Company assesses that the greater level of maturity of its graphite
business will enhance its chances of being successful with the Strategic
Project application.

 

 

 

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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