In the spotlight: Mineral Commodities chief executive Mark Caruso
Q. Can you please tell me the reasons behind the decision to acquire 51pc of the high-grad Munglinup Graphite Project? The acquisition of Munglinup is part of a strategic commodity and jurisdictional diversification. The mine is one of the highest graphite deposits in the world and had enormous latent potential. Moreover, it offered a unique entry point into a Tier 1 jurisdiction, on a fully granted mining lease, 105 km from Esperance and close to excellent local and regional infrastructure. The decision to acquire 51pc was the initial Farm-In and part of a larger staged transaction to acquire a further 39pc on completion of a feasibility study and the option to move to 100pc at the vendor’s election. The company…