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Significant steps in unlocking value-add process by producing spherical graphite from previously rejected ‘fines’ material 

Process converts low-values fines into high-value pre-cursor anode material, boosting yields beyond industry standards

Developments are the outcome of collaborative testwork with leading global technology partners to enhance anode production from natural flake graphite - further optimisation underway

Februar 3th 2025, NGX Limited (NGX or the Company) is pleased to announce that, in collaboration with international technology partners, the Company has successfully produced additional spherical graphite (SG) from previously rejected fines material. This innovative process gives NGX the potential to increase production yields of Active Anode Material (AAM) and produce higher-value anode products, unlocking significant value.

This technology advancement is part of NGX’s ongoing anode development program, focused on pre-qualifying anode material derived from natural flake graphite from the Company’s Malingunde Graphite Project in Malawi.

Figure 1: Flowsheet of the initial phases of the downstream process - additional feed from the process in blue

NGX’s Executive Director, Peter Fox, commented: “NGX is making excellent progress on its downstream strategy for the production of active anode materials. We are excited with our technical team's advancements on this innovative process, which aims to increase both the volume and value of the spherical graphite derived from flake graphite concentrate. This technology could significantly enhance project economics by converting rejected fines - typically a low-value stream from the shaping process - into high-value spherical graphite. We look forward to results from further optimisation work to maximise shaping yields and assess the electrochemical performance of the material."

For further information, please contact:

Peter Fox

Executive Director

Tel: +61 8 9322 6322

Sam Cordin

Executive

Tel: +61 422 799 087

As part of NGX’s ongoing downstream flake graphite program, the Company is working with leading technology partners worldwide to enhance the production of AAM from NGX’s high-quality natural graphite for the growing lithium-ion battery market. In collaboration with a technology company, NGX is exploring ways to turn low-value waste fines generated in the ‘spheronisation process’ into additional high-value SG in order to boost production efficiency and improve sustainability.

The Company’s initial testwork has produced SG that already meets the required industry benchmarks for SG, achieving a D50 of 16.7 microns, a 0.985 tap density, and a BET-specific surface area of 7.3 m²/g, with a yield of 43%. Ongoing optimisation efforts are expected to deliver even more significant improvements.

By introducing a new value-added process, NGX aims to produce finer-sized SG (D50: 10.7 microns) from low value fines material, increasing yield and improving the potential economics and marketability of graphite from the Malingunde Project. Finer SG (D50: 8-12 microns) is highly sought after for high-power and fast-charging battery applications, often commanding a price premium over larger-sized SG material.

Scanning Electron Microscopy (SEM) images (Figure 1) of the pre-cursor AAM produced in the process highlight the typical ‘potato-shaped’ structure of SG, and show the material to be agglomerates of smaller particles. Conceptually, this is expected to improve lithium diffusion.

Figure 2: SEM of spherical graphite produced from fines

The particle size distribution (PSD) of the fines feed to the process is shown in Figure 3, with the majority of material between 1-10 microns, with a D50 sizing of 4.9 microns.

Figure 3: Particle Size Distribution (PSD) of the fines feed

The PSD of the SG product (Figure 4) shows a shift to a larger D50 sizing (10.7 microns) and a more normal distribution. The ability to produce this material from what otherwise would be low-value fines,   which is typically sold as a low-value recarburiser used in steel making, is a significant value-add for NGX.

Fines processing increased overall yields by 24%, and based on the testwork conducted to date on this process, there is room for further optimisation, targeting an increase in overall yield and enhanced production of high-value smaller diameter spherical graphite. The first batch of finer-sized SG samples has already been sent for purification testing, with the results expected later this quarter.

Figure 4: Particle Size Distribution (PSD) of the spherical graphite produced from the waste fines material

(Refer ASX Release “NGX PRODUCES GRAPHITE CONCENTRATE OVER 98% TGC FOR LITHIUM-ION BATTERIES” on 24 October 2024 for further details.)

Competent Persons’ Statements

The information in this report that relates to Metallurgical Downstream Studies is based on information compiled by Dr Surinder Ghag, PhD., B. Eng, MBA, M.Sc., who is a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM). Dr Ghag is engaged as a consultant by NGX Limited. Dr Ghag has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking, to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Dr Ghag consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Forward Looking Statement

This release may include forward-looking statements, which may be identified by words such as "expects", "anticipates", "believes", "projects", "plans", and similar expressions. These forward-looking statements are based on NGX’s expectations and beliefs concerning future events. Forward looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of NGX, which could cause actual results to differ materially from such statements. There can be no assurance that forward-looking statements will prove to be correct. NGX makes no undertaking to subsequently update or revise the forward-looking statements made in this release, to reflect the circumstances or events after the date of that release.

Disclaimer

In relation to the disclosure of visual information and descriptions, the Company cautions that images displayed are for general illustrative purposes only, and that the visuals displayed, visual methods and estimation of mineral abundance should not be a proxy for laboratory analysis, and that laboratory analysis would be required to determine grades. Visual information also potentially provides no information regarding impurities or deterious physical properties relevant to valuations.

Approved for release by the Company’s Executive Director, Peter Fox.

Link to English original news:

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02908704-6A1249672