Global Li-Ion Graphite Corp, a company involved in the graphite industry with a focus on the acquisition and development of high-quality graphite projects, has announced that it has signed an exclusive memorandum of understanding to acquire a 100 per cent interest in the Montepuez Graphite Project in Mozambique.
According to information released by TipRanks, the project is strategically located adjacent to other major graphite projects and has demonstrated potential for substantial deposits of the ore through systematic exploration efforts.
The company’s president, Jason Walsh, explained that this acquisition could improve his institution’s position, particularly due to Mozambican President’s ‘status’ as a leading graphite producer, emphasising that the high quality ore deposits and significant exploration targets highlight the project’s potential impact on Global Li-Ion’s operations and market positioning.
He explained that the parties intend to enter into a definitive sale and purchase agreement by 15 April this year. ‘We are very excited about the opportunity to add the Montepuez Grafite Project to our portfolio of assets. Like Madagascar, Mozambique is known for its high-grade deposits and large flakes.’
According to the publication, the transaction was facilitated by The Minexchange, the world’s largest database of tradable mining projects.
