South Star Battery Metals Corp. has made significant strides in their Santa Cruz Graphite Mine project, with the final payment of the land purchase for the Phase 1 Plant and Operations. They have also received approval for the Definitive Mining Licenses for Phases 1, 2, and 3, marking a major milestone in the development of their graphite production facility in Bahia, Brazil.
The company is on track to complete construction of the Phase 1 plant by June 2024, followed by a commissioning and production ramp-up period. Commercial sales are expected to start in September 2024, with the plant reaching its nameplate production capacity by the end of Q4 2024.
The approval of the definitive mining licenses for the Santa Cruz project is a significant achievement, allowing for the future phased, modular expansion of graphite production up to 50,000 tonnes per year. With all necessary mining and environmental licenses and permits in hand, the company is well-positioned to scale production as demand for high-quality Brazilian graphite concentrates grows.
Richard Pearce, CEO of South Star, expressed his excitement about the progress made, stating that the company is executing on its strategy to deliver responsible production with phased, modular plants in strategic jurisdictions. The Santa Cruz project represents the first new graphite production in the Americas since 1996 and is poised to make a significant impact in the battery metals market.
Investors and stakeholders can expect further updates on the development of the Santa Cruz Graphite Mine as the company moves towards commercial production in Q3 2024. With a focus on sustainability and ESG principles, South Star is committed to creating a diversified battery metals company with operations in key markets.
