Private Canadian company Ontario Graphite Ltd has focused for the last five years on the reactivation of the Kearny flake graphite in Ontario, Canada. Originally established in 1989, the Kearny mine was operated by Cal Graphite Corp. for five years until its closure in 1994 Ð owing to under-utilisation and falling global graphite prices.
In 2006, Ontario Graphite (formerly iCarbon Canada) acquired the property with the aim of reactivating the site, which has the largest graphite resource in North America (measured and indicated resources of 43m. tonnes at 2.34% C, and 12.3m. tonnes of inferred resources at 2.42% C).
In May the company secured the remaining financing required to restart the Kearny site. IM spoke to Ontario Graphite’s management team - Tom Myatt, Ellerton Castor and Daniel Suniga - about the project’s next steps.What financing have you secured?Ellerton Castor: We completed a $23m. capital raise on 4 May...