ASX-listed Bass Metals has signed with the European Pssehl Erzkonta an agreement to sell it 50% of the production of the first phase of its Graphmada graphite prject, in Madagascar. It will therefore each year provide the buyer each year over three years a volume of 3,000 tons of graphite concentrates, starting from January 2018.
“Our partnering with Possehl, a group that has been in operation for more than 100 years and generates revenues greater than €350-million a year, is an important strategic relationship for Bass,” said Bass CEO, Tim MacManus.
Bass Metals currently works to optimize the Graphmada project. The company is on the good way to restart, this year, operations at the mine which it got from Stratmin, aiming to achieve an output of 6,000 tons next year. The second phase of the project will consist in an expansion that will bring the mine’s annual production capacity to 20,000 t.