Uley Graphite Export Shipped
Adelaide, April 14, 2015 AEST (ABN Newswire) - Valence Industries Limited (
ASX:VXL) (the 'Company') is pleased to announce that the first shipment of Uley Graphite(TM) is scheduled to leave Port Adelaide today for export to customers.
This initial export of approximately 20 tonnes of flake graphite was processed at Valence Industries' established processing facilities at the Uley Graphite(TM) site near Port Lincoln as announced on 26 March 2015. The graphite is now being shipped to Valence Industries' customers in the Asia Pacific.
This first shipment marks the return of Australia to the global graphite supply chain, worth an estimated US$13.6 billion and projected to grow further in the coming years to reach a US$17.5 billion in 2020.
Valence Industries' Managing Director & Chief Executive Officer, Christopher Darby commented: 'This export is an historic milestone for Valence Industries and the positive response from customers across a range of industries globally demonstrates the strength of the Company's position as the only Australian producer of flake graphite.
"There is added significance surrounding the shipment as it represents a new export industry for South Australia and the country, and Valence Industries aims to grow this substantially in the coming months and years.
"I wish to thank all involved in helping Valence Industries achieve its first export - our dedicated staff and contractors, the South Australian government and the Port Lincoln community. Mr. Darby added that production ramp up commissioning at the Uley Graphite(TM) site is performing as planned. Volumes of graphite for export shipments will increase substantially as the existing processing facility is ramped up in stages to a targeted rate of 14,000 tpa of graphite production in Q3 CY 2015.
Valence Industries is in advanced discussions with its financiers for expansion of its existing facilities and development of new advanced processing capacity. The first stage of the expansion program will more than double current graphite production capacity to 39,000 tonnes per annum with output increasing at the Uley Graphite(TM) site during CY 2016 along with delivery of advanced materials handling and processing capacity in Adelaide. Valence Industries is concluding negotiations to secure finance for the expansion program.
About Valence Industries Ltd
Valence Industries Limited (ASX:VXL) is an industrial manufacturing company producing high grade flake graphite products for distribution and sale to global markets. Valence Industries owns established processing facilities and infrastructure to manufacture a wide range of graphite product lines for multiple applications and multiple industries. Valence Industries produces and sells its graphite products from its Uley Graphite facilities in regional South Australia for delivery to diversified markets for graphite in the Asia Pacific, Europe and North America. Visit Valence Industries
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