MRL Corporation Ltd (MRL) has negotiated an agreement to acquire the shares of a company that holds licences to exercise the exclusive right to explore and mine for Graphite within 6,300 hectares of land located in several provinces of Sri Lanka.*
The world production of Graphite is approximately 1.1 million tonnes per year - more than 50 times the size of the lithium or rare earth markets. Depending on the mode of occurrence and origin, natural Graphite is graded into three forms: Flake, Amorphous and Lump.
Sri Lanka is known as the only major producer of crystalline vein Graphite (or lump Graphite) - the highest quality of naturally occurring material in the world. The purity level of vein Graphite produced in Sri Lanka is in excess of 90% carbon. This means little upgrading and processing is required to make a high-quality saleable product. Vein graphite is the rarest, most valuable form of natural Graphite.
Today, Graphite demands are increasing as valuable and broad applications are being researched and developed daily from consumer electronics, green energy, medical, mining and military applications.
The U.S.A. is a 100% importer of Graphite, and has recently joined China and the European Union in classifying Graphite as a critical strategic material.
*A further 344km2 aare currently under application for licence.