Arcadium shareholders approve $6.7bn sale to Rio Tinto
Shares of Arcadium Lithium rose about 7% in extended trading after the company said that about 98% of its shareholders had voted in favor of the sale.
The Graphmada Large Flake Graphite Mine in eastern Madagascar is processing 500 tonnes per month, says owner Bass Metals in a news statement released Wednesday.
The plant reached and sustained 25 tonnes per hour feed rate at an average head grade of 4.5% total graphitic carbon, achieving the processing plant’s nameplate production. The company says concentrates produced are at 94% fixed carbon.
Bass Metals (ASX:BSM) is a Perth-based producer of industrial mineral concentrates focused on Madagascar.
Creative Commons image of Madagascar Baobab courtesy of Frank Vassen
