Curated News
By: NewsRamp Editorial Staff
April 09, 2024
Applied Graphite Technology Acquires Queen’s Mine in Sri Lanka
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- AGT's acquisition of Queen's Mine in Sri Lanka sets the stage for increased graphite production, providing a competitive advantage in the market.
- The acquisition will amalgamate the newly acquired property into the Queens Mine Complex, with plans to increase production to 3,000 tonnes per year.
- AGT's focus on finalizing exploration licenses and obtaining a mining license in Sri Lanka is a step towards contributing to the local economy and creating job opportunities.
- The presence of motivated individuals within the Bureau of Mines in Sri Lanka aims for expedited processes, showing potential for future growth and development.
Impact - Why it Matters
This news is important for investors and stakeholders in the graphite industry, as the acquisition of the Queen’s Mine presents a significant opportunity for increased production and expansion. The successful amalgamation into the Queens Mine Complex and the progress towards obtaining a mining license indicate positive growth potential for Applied Graphite Technology Corporation.
Summary
Applied Graphite Technology Corporation CEO Don Baxter announced the successful acquisition of the past-producing Queen’s Mine in Sri Lanka. The newly acquired property will be amalgamated into the Queens Mine Complex. Plans to increase production to 3,000 tonnes per year and expedite the process of obtaining a mining license are underway.
Source Statement
This curated news summary relied on this press release disributed by News Direct. Read the source press release here, Applied Graphite Technology Acquires Queen’s Mine in Sri Lanka
