Lanka Graphite has entered into a Heads of Agreement (HOA) with a global leader in production of graphene-enhanced products, Global Graphene Group (G3), for the purpose of advancing toward a formation of a joint venture entity for development, exploitation and commercial production of a  range of graphene-enhanced products (full details: see ASX announcement 19 April).

The proposed joint venture would leverage high purity LGR-produced vein graphite.

The American-based  Global  Graphene Group (G3) is a global leader in graphene-enhanced applications, supporting a range of products to customers in 38 countries. G3 is rapidly scaling a broad range of commercial platforms of graphene  applications in several next-generations, high‐value verticals,  e.g.  energy storage, coatings, and  thermal management. It holds over 280 patents across verticals aforementioned; many are “first” patents.

Lanka and G3 have determined that there exists an opportunity to collaborate strategically via a proposed joint venture (LGR 50%, G3 50%) and agree to supply various IP and products into the joint venture. Lanka Graphite, operating across the largest vein graphite land holding in Sri Lanka, proposes to supply vein graphite product from future mining operations into the joint venture as well as assisting with  sourcing  investment,  marketing  and  administration.  G3 proposes  to  supply  its  experience in developing IP and research grants, commercialisation planning and manufacturing infrastructure.