Beowulf Mining PLC Extension of Site Reservation in GigaVaasa Area
30 Junho 2023 - 3:00AM
RNS Non-Regulatory
TIDMBEM
Beowulf Mining PLC
30 June 2023
30 June 2023
Beowulf Mining Plc
("Beowulf" or the "Company")
Extension of Site Reservation in the GigaVaasa Area for
Establishing Anode Materials Production
Beowulf (AIM: BEM; Spotlight: BEO), is pleased to announce that
its wholly owned Finnish subsidiary Grafintec Oy ("Grafintec") has
been granted an extension of the advance reservation for Plot 1,
Block 3017 in the GigaVaasa area ("Extension"). The plot will be
used for the establishment of a Graphite Anode Materials Plant
("GAMP"). The Extension was approved by the municipality of
Korsholm on 28 June 2023. The reservation is valid until 31 January
2024, with the option to extend further.
Rasmus Blomqvist, Managing Director of Grafintec, commented:
"The extension of the advance reservation in the GigaVaasa area
is a recognition of the good progress we have made in the past few
months, and is an important milestone towards our ambition of
becoming one of the Europe's first producers of graphite anode
materials for the fast-developing European battery market.
"During the first half of this year, we have been progressing
the first stage of the process design for the Prefeasibility Study
for the GAMP, which we expect to release in the third quarter of
the year. Grafintec has also begun the workstreams for the
Environmental Impact Assessment, having appointed AFRY Finland Oy.
Both the Prefeasibility Study and Environmental Impact Assessment
are key pieces of work that will fast-track the establishment of
the GAMP."
Roadmap and milestones
When Grafintec announced the signed initial advance reservation
on 21 February 2023, a roadmap with milestones to be achieved in
the first half of 2023 was drawn up. The roadmap included
advancement of the Pre-Feasibility Study ("PFS") for the GAMP and
commencement of the Environmental Impact Assessment programme
("EIA"), as well as continued communication with key stakeholders
in Korsholm and GigaVaasa.
Grafintec is collaborating with the Engineering Consultancy RB
Plant Construction Ltd. ("RB Plant") to fast-track the development
of the GAMP. The work on the PFS for the GAMP`s first stage of
process design has been progressing well and Grafintec expects to
be in the position to announce the results in the coming weeks.
Grafintec has also awarded the Finnish Engineering Consultancy,
AFRY Finland Oy ("AFRY"), the contract to carry out the EIA and
Environmental permitting application procedures. This includes a
number of parallel workstreams that will be carried out in close
collaboration between Grafintec, AFRY, RB Plant, and the local
authority, Center for Economic Development, Transport and the
Environment. The progress made on the PFS and EIA are all important
pieces required to fast-track the establishment of the GAMP.
A fast-growing market
The European battery market is expected to grow exponentially
within the next decade with a forecasted demand of more than 1.3
million tonnes of graphite anodes by 2030, which can be compared
with a current demand of 160 thousand tonnes of graphite anodes
(Benchmark Mineral Intelligence, March 2023). As no commercial
production of graphite anode materials exists within Europe today
and with the increased geopolitical tension in the world, the
European Union has proposed the "Critical Raw Materials Act" which
aims to strengthen the competitiveness and to secure a sustainable
supply of the critical raw-material supply-chain for Europe.
The growing demand of critical raw-materials for the emerging
European battery industry and support from the European Union,
places Grafintec in a strong position to contribute and be part of
the value-chain.
Enquiries:
Beowulf Mining plc
Johan Röstin, Chairman johan.rostin@beowulfmining.com
Daniel Lagerqvist
SP Angel
(Nominated Adviser & Broker)
Ewan Leggat / Stuart Gledhill Tel: +44 (0) 20 3470
/ Adam Cowl 0470
BlytheRay
Tim Blythe / Megan Ray Tel: +44 (0) 20 7138
3204
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