EcoGraf (ASX: EGR) Advances in Graphite Production with Successful PQF Operation and Special Licence

Highlights

• EcoGraf has invested over US$30 million in its graphite operations, including the Epanko Graphite Mine and EcoGraf HFfree® Purification Facilities.
• Epanko Graphite Project’s ore reserve increased by 110%, with 82% of reserves classified as proven, boosting metallurgical confidence.
• EcoGraf’s HFfree™ process achieved significant advantages, including competitive economics and minimal hazardous waste.
• The Product Qualification Facility (PQF) successfully produced high-purity HFfree® spherical graphite, meeting battery anode specifications.
• Epanko Graphite Project secured a special mining licence from the Tanzanian government, paving the way for Stage 1 development.

ASX-listed EcoGraf Limited (ASX:EGR) has recently published its half-yearly report for the six months ended 31 December 2024 (1HFY25). The company highlighted significant developments and milestones in its ongoing efforts to build a vertically integrated business for battery anode materials. EcoGraf aims to produce high-purity graphite for lithium-ion markets.

Significant Investment in Graphite Business

To date, EcoGraf has invested more than US$30 million in building a comprehensive graphite business, which includes:

• Epanko Graphite Mine in Tanzania
• Mechanical Shaping Facility in Tanzania
• EcoGraf HFfree® Purification Facilities

EcoGraf HFfree™ Process Achieves Key Milestones

 During the reported period, EcoGraf completed an independent benchmarking study on the EcoGraf HFfree™ purification process. The study compared the EcoGraf process to alternative methods used for purifying natural spherical graphite for lithium-ion battery anodes. The results confirmed that EcoGraf HFfree™ process offers significant advantages, including competitive economics, minimal hazardous waste production, and a scalable design that can be integrated into battery manufacturing hubs.

Additionally, EGR successfully commissioned its Product Qualification Facility (PQF) in Western Australia. The PQF completed its first continuous run, marking a significant milestone in advancing the EcoGraf HFfree™ process towards commercial-scale production.

Successful Operation of the PQF

In February 2025, the company reported the successful operation of its Product Qualification Facility (PQF). The facility continuously produced EcoGraf HFfree® purified spherical graphite (SPG), meeting battery anode specs and key physical characteristics for lithium battery applications.

Epanko Graphite Project Completes FEED Phase

Additionally, the Epanko Graphite Project saw the completion of the Front-End Engineering Design (FEED) phase, managed by METC Engineering and Construction, in collaboration with uts Tanzanian joint-venture partner, METC-PaulSam. The FEED study established the project's execution foundation, including detailed designs, scope, schedule, and control budget for the process plant.

Special Licence for Epanko Graphite Project

After the reported period, on 03 March 2025, the Government of the United Republic of Tanzania granted the Special Mining Licence (SML) for the Epanko Graphite project. This licence, which covers the full life of mine, is a key milestone in securing financing for stage 1 development of the project.

The share price of EGR was AU$0.160 at the time of writing on 13 March 2025.