Ceylon Graphite completes first graphite sale from its K1 mine in Sri Lanka

June, 5, 2020

Ceylon Graphite Corp. (“Ceylon Graphite”) recently announced the first sale of graphite from its K1 mine in Sri Lanka,  since the commencement of commercial production in December 2019.

The sale, which was for one tonne of vein graphite with carbon content of 95-97 %, was sold to Singapore-based 2D Materials (Pte) Ltd (“2D Materials”) by  Sarcon Development (Pvt.) Ltd, a wholly-owned subsidiary of Ceylon Graphite Corp.

“2D Materials purchased the graphite to evaluate it for its graphene production needs. The shipment is expected to ship immediately,” Ceylon Graphite said in a statement.

2D Materials currently manufactures high-performance graphene as an industrial additive to enhance the properties of many industrial materials such as paints and coatings, batteries, composites, polymers and lubricants.

“We are excited by this first order.We know from our own testing and the historical record of Sri Lankan graphite that we have a high-quality vein graphite. This is the next step in accelerating our production rate to enable us to fulfill the needs of multiple customers, " Ceylon Graphite CEO Bharat Parashar said.

Sri Lankan graphite is recognized as one of the purest in the world, which combined with a low cost of production, makes it ideal for many uses, most notably when upgraded to battery-grade graphite for lithium ion batteries and for the burgeoning market of graphene applications.

Ceylon Graphite’s K1 mine entered commercial production in December 2019 with exploration continuing at its other selected sites. Sarcon Development has control of 121 Grids in Sri Lanka.

About Ceylon Graphite Corp.

Ceylon Graphite is a public company listed on the TSX Venture Exchange that is in the business of exploration and development of graphite mines in Sri Lanka. The Government of Sri Lanka has granted the company exploration rights in a land package of over 120km². These exploration grids (each one square kilometer in area) cover areas of historic graphite production from the early twentieth century and represent a majority of the known graphite occurrences in Sri Lanka. Graphite mined in Sri Lanka is known to be some of the purest in the world, and currently accounts for less than 1% of the world graphite production.