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Ceylon Graphite receives enviro renewal for its K1 mine in Sri Lanka

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(Kitco News) - Ceylon Graphite (TSX-V: CYL) announced Tuesday it has received the renewal of its Environmental Protection Licence from the Central Environmental Authority of Sri Lanka for ongoing operations at the K1 Mine project.

In a press-release, the company said that the licence is valid for three years after having past an inspection that the operation conforms to stipulated standards.

CEO Don Baxter stated, "We are very pleased with our technical staff on site, having maintained compliance with the applicable environmental standards and we look forward to applying these standards to our production growth vein graphite prospects in Sri Lanka."

The company added it is looking to "tick all the ESG boxes" for OEMs and investors alike as it continues to evolve into a stand-alone battery technology company.

Ceylon Graphite is in the business of mining for graphite, and developing and commercializing innovative graphene and graphite applications and products.

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Graphite mined in Sri Lanka is known to be some of the purest in the world and has been confirmed to be suitable to be easily upgradable for a range of applications including the high-growth electric vehicle and battery storage markets as well as construction, healthcare and paints and coatings sectors.

The Government of Sri Lanka has granted the company’s wholly owned subsidiary an IML Category A license for its K1 mine and exploration rights in a land package of over 120kmĀ².

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