Prospect gets iron petalite export thumbs-up

ASX-LISTED firm, Prospect Resources, has gotten product approval for its ultra-low iron petalite from two of the world’s largest glass-ceramic manufacturers based in Europe setting the stage for a pilot trial manufacturing product in large kiln.

If successful, as Prospect anticipates, the miner will become one of only two mines in the world capable of producing ultra-low iron petalite and the miner says it is even expecting to be the largest player in the world.

The deposits from which the miner hopes to achieve this are at their Goromonzi Mine where they are developing a lithium mine.

In a market update issued yesterday, Prospect said in addition, to the European approvals, its ultra-low iron petalite product had met specification testing for ceramic production in the two Asian giants China and Japan.

“. . . is pleased to announce that its ultra-low iron petalite product has progressed through the initial qualification process with two of the world’s largest glass-ceramic manufacturers, both based in Europe,” said Prospect Resources in a statement yesterday.

“Prospect provided both manufacturers with samples for laboratory testing and analysis.

“The outcomes from their analysis is that the ultra-low iron petalite meets the glass-ceramic market’s stringent technical specifications.

“The next steps in the product qualification process are: a pilot trial manufacturing product in a large kiln; and a full test in the production kiln,” reads the statement.

It also advised that the testing will continue into next year as larger volumes of product become available after the mining pit is opened and the pilot plant is constructed.

The pilot plant itself will continue to operate for the life of the mine and will continuously test future ores before they reach the production plant to ensure process efficiencies are implemented prior to ore being delivered to the plant.

“Prospect anticipates being one of only two mines in the world capable of producing ultra-low iron petalite and we expect to be the largest player in this natural oligopoly — none of which are based in Australia.

“Demand for the Company’s ultra-low iron petalite is expected to be spread equally between Europe and Asia, with considerable supply deficit for the foreseeable future.

“In addition, the Company is also pleased to report that its ultra-low iron petalite product has met specification testing for ceramic production in Japan and China.

“A key attraction from customers to Prospect is that the Company can provide a long- term reliable supply of product both in terms of monthly volumes and consistent product quality,” said Prospect.

Ultra-low iron petalite is a key lithium ingredient in dark glass, comprising up to 90 percent of the inputs, within the glass-ceramics market.