The Australian mining firm, Metals of Africa says it has discovered an estimated 6.3 million tonnes of graphite at its Montepuez Central Graphite Project in the northern Mozambican province of Cabo Delgado. In a statement seen by the African Press Agency on Tuesday, Metals Africa estimated that the resource contains 163,000 tonnes of vanadium oxide.
The firm said the deposit contains a higher percentage content of large and jumbo flake size than any published graphite resource in Mozambique.
This is of particular importance as prices rise sharply as size of flake increases.
In a presentation, the company stated that jumbo flakes sell for about $2,200 per tonne, large flakes for $1,250, medium flakes for $1,100 and small flakes for $900.
It pointed out that more than half of the graphite at Montepuez consists of either large or jumbo sized flakes.
The Managing Director of Metals of Africa, Cherie Leeden, said that this impressive maiden resource positions Metals of Africa as a major player in the global graphite space. Our flake size and quality is exceptional and our deposit clearly boasts the best ratio of large and jumbo flake of graphite deposits in Mozambique.
The company plans to export the graphite through the port of Pemba, which is 250 kilometres away.
It added that an alternative would be to ship the material through the port of Nacala, in the neighbouring province of Nampula.
Graphite is a form of carbon that is highly valued due to its properties as a conductor of electricity.
It is used in batteries and fuel cells and is the basis for the “miracle material” graphene, which is the strongest material ever measured, with vast potential for use in the electronics industries.