Beowulf Mining (LSE:BEM) said Grafintec Oy has completed a preliminary technical study for the Aitolampi graphite project, establishing an initial development pathway for open-pit mining and processing and linking its upstream assets to the company’s planned Graphite Anode Materials Plant (GAMP) at the Keltakallio industrial site in Kotka.
The study, supported by engineering consultant AFRY Finland Oy and based on existing geological and metallurgical data, models production of c.700,000 tonnes of ore per annum yielding about 35,700 tonnes a year of 95% TGC graphite concentrate and sits against an Indicated and Inferred JORC Mineral Resource of about 26.7 million tonnes at an average grade of 4.8% TGC.
Grafintec presented the work at the inaugural Power Coast Summit, which drew over 600 attendees, and hosted public meetings in Heinävesi and Tuusniemi with roughly 60 in-person participants, and the company said, "Early, consistent and transparent engagement is critical to garnering support and trust with local stakeholders, and it is great that the meetings were so well-attended," Ed Bowie, Chief Executive Officer, said.
The update also highlights the nearby Rääpysjärvi prospect where surveys and trenching indicate potential for a mineralised system that could be similar in scale or higher grade than Aitolampi but requires drilling to define a resource, and notes previous testwork showing Aitolampi concentrate can be processed into spherical graphite at greater than 99.95% TGC.
Beowulf said its immediate priorities over the next two to three years are further exploration and resource definition, pilot-scale metallurgical testing, tailings and environmental studies to support an EIA and a potential mining permit application.
Jokkmokk and the NordicPipe
Separately, Beowulf reported that its wholly owned subsidiary Jokkmokk Iron Mines AB said the NordicPipe consortium will continue work on the slurry pipeline project but has withdrawn from the European Institute of Innovation and Technology funding programme.
The consortium, which was conditionally awarded EIT funding on 18 March to advance technical and environmental knowledge for slurry pipelines in the Nordic region, decided to withdraw after being informed of additional administrative requirements and costs beyond those included in the initial proposal, the company said in its announcement.
After evaluating the options the consortium concluded it could achieve the project's objectives more efficiently, with greater flexibility and at a lower overall cost and administrative burden by proceeding independently of the EIT programme. Jokkmokk Iron said it remains committed to advancing the pipeline solution with consortium members and expects to progress the work on a timetable aligned with the broader Kallak infrastructure development.
