South Star Mining Corp. focuses on the acquisition and development of near-term mine production projects in Brazil to maximize shareholder value.
They are currently developing the Santa Cruz Graphite Project in the Bahia State, Brazil.
The project in Santa Cruz has a 19-year mine life with 12 million tons of mineable graphite and a 117 million net value.
The company is poised for growth as graphite demand picks up due to its irreplaceable use in rechargeable batteries that power electric vehicles.
“The Santa Cruz Graphite Project presents South Star Mining Corp. with a rare and excellent opportunity to become a significant player in the global graphite industry. Large flake, jumbo flake, and spherical graphite are currently in great demand with analysts expecting demand to increase significantly over the next five years,” said South Star chief executive officer Eric Allison.
The company is now working on a long-term strategy to commercialize its project. It recently signed an agreement with Urbix Resources LLC to test, develop, and commercialize graphite concentrates from the Santa Cruz project.
It is an advanced testing program and will evaluate four different kinds of flake size concentrates that were produced during South Star’s pilot plant program. Urbix Resources will provide details on characterization, purification, expandability, and market suitability.
Once the testing phase is complete, the companies will work toward making commercial relationships including offtakes, processing, technology sharing, and product distribution.
Mr. Allison is confident about the company’s progress: “The information provided will greatly assist South Star in its marketing efforts as well as in the ultimate design of our processing facilities in Brazil.”
“We are firm believers in the future of graphite, not only in its traditional markets but in many new advanced applications and Urbix is at the forefront of this technological development,” he added.