OPERATIONS

SRG secures 90% offtake for Lola production

Canada-based SRG Mining has secured a sixth offtake agreement for the production from its Lola graphite project in Guinea.

 The Lola project's graphite lab. Photo: SRG Mining

The Lola project's graphite lab. Photo: SRG Mining

The deal is for 8,000t over three years, bringing its take-off total over that period to 136,000t - to 90% of its expected production from the West Africa mine.

It follows a fifth contract inked in late May for 10,000t over three years.

SRG said it will continue sales agreement efforts throughout Lola's life span. It is also currently "actively engaged" with several unnamed clients for additional take-off deals.

After receiving the mine's 15-year renewable mining permit for the operation in November 2019, the miner announced in April it had selected DRA as the contractor for Lola's engineering, procurement and construction management.

At that time, it signed an offtake agreement for 20% of its projected output, and opened the door to finance discussions.

The Lola graphite deposit is located about 1,000 kilometers (621 miles) southeast of Conakry, the capital of the Republic of Guinea.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Magazine Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Magazine Intelligence team.

editions

Mining Magazine Intelligence Future Fleets Report 2024

The report paints a picture of the equipment landscape and includes detailed profiles of mines that are employing these fleets

editions

Mining Magazine Intelligence Digitalisation Report 2023

An in-depth review of operations that use digitalisation technology to drive improvements across all areas of mining production

editions

Mining Magazine Intelligence Automation Report 2023

An in-depth review of operations using autonomous solutions in every region and sector, including analysis of the factors driving investment decisions

editions

Mining Magazine Intelligence Exploration Report 2023 (feat. Opaxe data)

A comprehensive review of current exploration rates, trending exploration technologies, a ranking of top drill intercepts and a catalog of 2022 Initial Resource Estimates and recent discovery successes.