Evion Accelerates Graphite Production in India
Evion Accelerates Graphite Production in India

Evion Accelerates Graphite Production in India

  • 20-Jun-2024 4:13 PM
  • Journalist: Sasha Fernandes

Evion Group NL (ASX: EVG) (“Evion” or the “Company”) announces that testing and the production ramp-up phase at the newly constructed expandable graphite facility in India, operated by Panthera Graphite Technologies (“PGT”), a 50/50 joint venture between Metachem Manufacturing Company Pvt Ltd and Evion, have been largely completed. The JV operational team is now preparing for full production.

Production is expected to incrementally rise over the coming months, aiming to reach a short-term full capacity of at least 150 tonnes. Additionally, preparations are in progress for expanding further to meet the robust demand for Evion's high-quality expandable graphite project.

David Round, Managing Director of Evion, remarked, "We are pleased with the progress of our joint venture operations in India in recent months. Significant efforts have been dedicated to testing and refining production processes to ensure the delivery of premium products that meet the growing demand for our offerings. In addition to our sales in Europe, we have received substantial inquiries from buyers in the USA and Asia, bolstering our confidence to expand the plant's production capacity. I intend to visit the site in the coming weeks and anticipate releasing comprehensive updates and videos showcasing the potential of this world-class downstream graphite facility."

PGT has assembled a seasoned management and operational team to steer the success of Evion’s expandable graphite operations. The Evion team will collaborate closely, aiding in the procurement of graphite concentrate and facilitating sales to Europe and other promising markets.

The joint venture is nearing completion of fixed-price contracts to acquire a significant portion of the required graphite concentrate for production over the next 12 months. The anticipated prices align closely with Evion's forecasts, ensuring substantial return security for the JV.

Moreover, the joint venture is in discussions to revise sales prices and volumes with Evion's existing and prospective buyers, aiming to extend Evion's market reach into the USA and Japan. This initiative will diversify Evion's sales channels, while increased fixed sales contracts are expected to bolster JV cash flow significantly over the next year.

Evion Group (ASX: EVG) is a vertically integrated graphite developer engaged in projects across Madagascar, India, and Europe. The company's flagship project, Maniry Graphite Project, situated in Southern Madagascar, recently completed its Bankable Feasibility Study (BFS) with a strategic emphasis on high-demand value-added products. Evion is actively pursuing downstream opportunities for value-added graphite processing in India and Europe, regions recognized for their strong demand for such products.

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