Applied Graphite Technologies Corporation CEO Don Baxter has recently announced the successful acquisition of the Queen’s Mine in Sri Lanka. This mine, which is strategically located between AGT’s Dodangaslanda Graphite Properties, will be integrated into the Queen’s Mine Complex. The mine has a history of extracting high-grade graphite veins at a rate of 20 tonnes per month, with plans to increase production to 3,000 tonnes per year. With multiple graphite veins and varying thicknesses, the mine provides significant opportunities for extraction.
Over the next three to six months, the focus for Applied Graphite Technologies Corporation will be on finalizing exploration licenses necessary for securing mining rights and avoiding negotiations with landowners. This process is expected to quickly lead to obtaining a mining license, which will expedite production. CEO Don Baxter expressed confidence in the regulatory environment in Sri Lanka and highlighted improvements in governmental procedures and support for mining activities.
The company is optimistic about the future of the Queen’s Mine and sees great potential for increased production and success in the region. With the support of motivated individuals within the Bureau of Mines and a clear path to obtaining mining licenses, Applied Graphite Technologies Corporation is positioned for growth and success in Sri Lanka.
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