Lanka Graphite has signed a Memorandum of Understanding (MOU) with the Government of Sri Lanka covering the development of the graphite and graphene industry in Sri Lanka.

The MOU is the first step toward a feasibility study outlining a development structure between the two parties that will progress Sri Lanka toward a world leading position in the current vein graphite industry and a future leader in graphene research and development.

Under the terms of the MOU, Lanka Graphite will form a graphite industry development committee consisting of representatives from the Government of Sri Lanka and Lanka Graphite for the purposes of undertaking the feasibility study and determining the nature of the projects and the level of investment required to achieve the stated aims.