DAILY NEWS Jan 21, 2013 4:31 PM - 0 comments

CONTRACT: Northern Graphite awards Bissett Creek FEED study

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2013-01-21

ONTARIO - Northern Graphite Corp. of Ottawa has awarded a $3.5-million contract for the front end engineering and design (FEED) for its Bissett Creek graphite project 100 km east of North Bay to a joint venture of Porcupine Engineering Services and BECMA Ltd. PES-BECMA will prepare plans for a 2,500-t/d processing facility and related infrastructure.

The detailed engineering and design phase is expected to take seven months, said Northern Graphite. It is part of the estimated $102.9-million estimated capital costs for the project. The company will fund the study from its current cash position.

Permitting of Bissett Creek is due to be done in Q1 2013 for operations to begin in 2014. The plant will produce 20,000 tonnes of large flake, high purity graphite annually.

Northern Graphite recently signed a mining equipment financing deal worth $17.5 million with Caterpillar. Read more news at NorthernGraphite.com.



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