Assembly Service - All Clips
Advertiser (Adelaide), Adelaide
07 Jun 2016, by Christopher Russell
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Business Journal, page 30 - Size: 260.00 cm² Capital City Daily - Circulation: 125,258 (MTWTFS-)
ID 606180909 BRIEF LINCOLNMIN PAGE 1 of 1
Graphite mine wins lease
CHRISTOPHER RUSSELL
A GRAPHITE mine at Kooka- burra Gully, 35km north-west of Port Lincoln, has moved a major step closer with the granting of a mineral lease.
Project owner Lincoln Min- erals said the lease clears the way to complete the Program for Environment Protection and Rehabilitation (PEPR) on the mine and begin raising the estimated $50 million con- struction cost.
"The grant of ML 6460 is the key pivot point and mile- stone to ensure delivery of Lin- coln's transformation now from project explorer and de-
veloper to an emerging graph- ite producer, in an industry at the forefront of the growing global green energy market," chairman Yubo Jin said.
Managing director John Parker said that it was exciting to clear the hurdle as Lincoln now targets production from 2017 at the high-grade, shallow deposit.
He hopes one of the earliest customers will be the solar thermal project at Port Augus- ta being proposed by Solastor, the company supported by for- mer federal Liberal leader and South Australian climate change adviser John Hewson.
"Graphite is a critical com-
ponent of the Solastor pro- posal," Mr Parker said.
"In the proposed Solastor system, a tower-mounted, 10 tonne graphite solar thermal receiver is heated to 800C and used to convert water to steam, which is then used to generate electricity in a steam turbine generator.
"For the Port Augusta pro- posal, at least 1700 graphite blocks - or more than 17,000 tonnes of graphite - would be
required."
One of the properties of graphite is that it retains en- ergy because it emits little radi- ant heat.
Graphite is also used in bat-
teries, electrical components, stationery, steel-making, lubri- cation and more.
Mr Parker expects the PEPR report to take between six and 12 months to complete. In regards to funding the re- port phase, Lincoln will first look to China, where board members have extensive con-
nections.
Lincoln now has more than
$700,000 in cash and a facility to place 100 million shares. Lincoln shares are currently trading at about 5c.
"So we're confident we'll have the funding to complete the PEPR," Mr Parker said.
The Kookaburra Gully
mine would create 60 jobs dur- ing construction and 30 direct, permanent jobs.
In addition, there would be support jobs created, including in transporting containers for export through Port Adelaide.
Lincoln aims to produce 40,000 tonnes of high-grade concentrate per year for at least seven years.
Mr Parker said the com- pany was pleased to have ma- jority support from the local community.
In April, Lincoln Minerals signed a memorandum with the Tumby Bay District Coun- cil to collaborate on the mine's development.
EXCITED: Lincoln Minerals boss Dr John Parker.