Great Lakes Graphite Receives Approval to Begin Operation at the Matheson Micronization Facility
TORONTO, ONTARIO--(Marketwired - Jan 20, 2016) - Great Lakes Graphite Inc. ("GLK" or the "Company") (TSX VENTURE:GLK)(OTC PINK:GLKIF)(FRANKFURT:8GL) today announced that the Ontario Ministry of the Environment has approved an amendment to the Air/Noise permit for the Matheson Micronization Facility, located in Matheson, Ontario, Canada. The Company is now fully permitted and has all required approvals from the Ontario government to begin operation at the facility. Since project work began in early 2015, the Company has worked closely with the Ontario government, local aboriginal communities and the surrounding local community of Matheson. The Company intends to continue this effective approach as it moves into production at the facility.
"The Ontario Ministry of the Environment's decision to grant the permit amendment for this project marks a critical turning point towards commencing production at the Matheson Micronization Facility," said Jerry Janik, Chief Operating Officer, Great Lakes Graphite "This milestone reflects our company's strong commitment to the responsible re-commissioning of the Matheson Micronization Facility, with a particular focus on environmental sustainability. We are grateful to the team at AMEC Foster Wheeler, who worked with us on this project. Their outstanding engineering work and support throughout this process have been invaluable and helped to insure a successful outcome."
The Matheson Micronization Facility has instituted several sustainability measures to reduce waste and energy use, including the deployment of superefficient sealed LED light fixtures.
With the permit amendment in place, the Company remains on track to begin production at the Facility in the first quarter of 2016. The re-commissioning of the Facility has already provided an economic benefit for local contractors who were active participants in the plant refurbishment process. The plant is expected to benefit the local community on an ongoing basis by providing approximately 3 direct full-time jobs and has the potential to ultimately provide two or three times that number, depending on the level of production required from the Facility. Beyond that, Great Lakes Graphite is committed to becoming an integral member of the local community.
"It is among our highest priorities to be a good neighbour and responsible corporate citizen," said Paul Gorman, CEO and Director, Great Lakes Graphite Inc. "We're building positive partnerships with the Town of Matheson, local aboriginal communities, regional colleges and others in Matheson and the surrounding area. We value their support and feedback and look forward to working together in the months and years ahead."
The Matheson Micronization Facility has been maintained since its closure in 2004 and is in compliance with all environmental and regulatory requirements. Great Lakes Graphite's capital expenditure program will significantly improve graphite upgrading processes while taking advantage of its substantial existing infrastructure resources. The existing infrastructure not only provides Great Lakes Graphite with a substantial capital expense savings, but also has significantly shortened the time required to initiate commercial operations. When operating at targeted capacity, it is estimated that the Matheson Micronization Facility will process approximately 10,000 tonnes of high-carbon graphite concentrate per year.
About Great Lakes Graphite: Great Lakes Graphite Inc. is an industrial minerals company focussed on bringing value-added carbon products to a well-defined market.
The Company's Innovation Division has entered into long-term agreements for use of the Matheson Micronization Facility and for supply of high quality natural graphite concentrate (see news release dated 03/23/15) which are positioning Great Lakes Graphite to become an emerging domestic manufacturer and supplier of micronized products to a growing regional customer base where pricing and demand continue to rise.
Further information regarding Great Lakes can be found on the Company's website at: www.GreatLakesGraphite.com.
Great Lakes Graphite trades with symbol GLK on the TSX Venture Exchange and currently has 101,227,645 shares outstanding (140,654,238 fully diluted).
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact
Paul Ferguson
Chief Marketing Officer
1-800-754-4510 x106
PFerguson@GreatLakesGraphite.com
Paul Gorman
Chief Executive Officer
1-800-754-4510 x109
PGorman@GreatLakesGraphite.com