BMR has two projects (100% owned) containing deposits of high-quality flake graphite in South Korea: Geumam and Taehwa. Both have previous mine operations with existing local infrastructure in place and have the potential for near-term production.
South Korea is the world’s second largest Li-ion battery producer, after China.
South Korea was the largest producer of graphite in the world (ex China) during the 1960’s to early 1990’s, with production of about 77,000 tonnes of flake and amorphous graphite annually (World Mineral Statistics yearbooks maintained by the British Geological Survey and the United States Geological Survey Minerals Yearbooks from 1990).
Graphite produced was mainly exported to Japan for use in the steel industry as castings in foundries and in hardened steel production. In the early 1990’s the global graphite market was depressed by increasing supply from China, which resulted in reduced prices over a prolonged period and forced the closure of the South Korean mining operations.