A feasibility study into the development by Lanka Graphite of a number of Sri Lanka’s government graphite assets has indicated that there are significant commercial opportunities available.

The completed study is a clear progression of the company’s ongoing discussions with the Government of Sri Lanka following the signing of a Memorandum of Understanding between the two parties late last year.

Lanka Graphite, its Board and management are encouraged by the findings of the study and look forward to progressing the MoU with the government to a formal agreement in the coming months.

Under the terms of the MoU, Lanka Graphite continues to work with an industry development committee for the purpose of advancing Sri Lanka toward a global leading position in the vein graphite and graphene industry.

Lanka Graphite is an ASX-listed graphite exploration company that is focused on exploration of a number of historic and new exploration and mining tenements in central and south-western Sri Lanka.

It intends to develop high grade graphite production that can supply nearby Asian end user companies particularly focused on new technology graphene applications.