Lincoln Minerals (ASX:LML) has announced that graphite from its Kookaburra Project in South Australia has achieved battery-grade purity levels, reaching up to 99.97% total graphitic carbon (TGC). Independent laboratory tests confirmed purity levels at or above 99.95% TGC, the industry benchmark for battery anode material. This milestone significantly enhances the project’s potential, positioning Lincoln Minerals as a key player in the global graphite and battery materials supply chain.
The purification process was achieved without hydrofluoric acid, reducing costs, complexity, and improving safety and environmental outcomes, according to CEO Jonathon Trewartha. The company is advancing its Battery Anode Material Scoping Study, building on the positive economics outlined in the recently released Prefeasibility Study (PFS) for the Kookaburra Graphite Project. The PFS outlines a staged development using open-pit mining and a flotation process to produce graphite concentrate for export. The pre-tax net present value is estimated at $114 million, with a 41% pre-tax internal rate of return. Kookaburra is slated for a final investment decision by the end of 2026.
Furthermore, the Kookaburra Project was included in the updated Australian Critical Minerals Prospectus for 2025, highlighting its strategic importance. Ongoing test work is focused on value-added product pathways, including a potential battery anode material processing facility in South Australia, to further enhance project returns. A 50 kilowatt-hour electric vehicle battery requires 100kg of graphite, highlighting the material’s demand in the EV sector.
