Applied Graphite Technologies Corporation (AGT) CEO Don Baxter has announced the acquisition of the past-producing Queen’s Mine in Sri Lanka. The mine is located between AGT’s Dodangaslanda Graphite Properties and will be integrated into the Queens Mine Complex.
The Queens Mine has a history of extracting high-grade graphite veins at a rate of 20 tonnes per month, with plans to increase production to 3,000 tonnes per year. The property also provides access to underground workings that have exposed at least six graphite veins, spanning a total width of 25 meters with vein thickness varying up to 0.4 meters.
Baxter expressed confidence in the regulatory environment in Sri Lanka and believes that improvements in governmental procedures and support will help streamline mining processes. He noted the presence of motivated individuals within the Bureau of Mines working towards this goal.
Over the next three to six months, AGT’s focus will be on finalizing exploration licenses, which are crucial for securing mining rights and avoiding negotiations with landowners. This process is expected to quickly lead to obtaining a mining license and moving the company into production.
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