Quantum Graphite secures 21-year renewal for uley 2 mineral leases

Quantum Graphite Limited (QGL) has secured a 21-year renewal for its Uley 2 Mineral Leases, ML5561 and ML5562, from the South Australian Department of Energy and Mining. This renewal underpins an extended project life for the Uley 2 and Uley 3 mineralisation, consolidating QGL's position as a major flake graphite producer. The Uley Mines contain an estimated 5 million tonnes of natural flake graphite, while the broader District Mines Expansion Plan supports an additional 50+ years of supply.

The Uley 2 Project, scheduled from 2027 to 2038, includes the Uley 2 and Uley 3 Mines, with all necessary permits and infrastructure already in place. This project is set to provide the initial 12 years of flake graphite ore to the Sunlands Pure Concentrator. Following this, Uley 3 South, 4, 5, and 6 will be progressively developed from 2038 through approximately 2070.

The Uley Project's total Mineral Resource Estimate stands at 7,200kt at 10.5% TGC, including proved and probable reserves of 4,003kt at a 3.5% TGC cut-off. The recently granted EL7019 in 2024 followed extensive exploration studies in 2023 and 2024.