admin
LYNX Graphite Mine in Karoi is in the market for US$5,9 million for exploration and plant refurbishment. Graphite is a gray, crystalline, allotropic form of carbon that occurs as a mineral in some rocks and can be made from coke. It is used as a solid lubricant, in pencils, as a moderator in nuclear reactors, in batteries, thermal management in consumer electronics, fire retardants and reinforcements in plastics.
The market for graphite is approximately one million tonnes per year, of which 60 percent is flake and 40 percent amorphous.
Lynx Mine is a joint venture between the Zimbabwe Mining Development Corporation and Graphit Kropfmhul Gmbh of Germany, and is operated by Zimbabwe German Graphite Mines (Pvt) Limited.
ZMDC is a parastatal established by an Act of Parliament in 1982 to “create a vibrant and versatile mining power house necessary to transform Zimbabwe’s mineral wealth to the world class standards”, and runs several mines.
Lynx Mine board chair Mr Cris Chitambira told The Sunday Mail Business that US$1,2 million was needed in the short-term and US$4,7 million for long-term projects.
“In terms of the current approved business plan, the mine requires investment to finance more exploration, plant upgrade and mechanise underground mining.
“Debt is the preferred option but equity could be considered. This (investment) will improve quality and quantity (of the product) ,” said Mr Chitambira.
Once the funds have been obtained and production ramped up, an international marketing onslaught will be rolled out.
A regional sales team has already been set-up.
Demand for graphite on the local market has been steadily growing.
Mr Chitambira said the company’s processing equipment was old and had largely been sustained by a regular maintenance programme administered by “highly skilled employees”.
Currently, Lynx Mine is operating at between 75 percent and 80 percent capacity, producing around 6 600 tonnes against a target of 7 200 tonnes per month.
Mr Chitambira said the mine had proven reserves of up to 12 years, which could extend to over 18 years.
In February this year, the board approved Lynx Mine’s exploration programme and preliminary work has commenced.
Lynx Mine’s graphite is being beneficiated in line with the aspirations of Zim-Asset, and more research is being carried out to increase revenues.
With 260 employees, the mine has been in existence since 1965.
Apart from Madagascar, there is no other graphite producer in Africa, though a new operation is expected to be commissioned in Mozambique this year.
Online Reporter