Located north of Constance Lake First Nation and Hearst, the Albany Graphite Project is a high-purity, hydrothermal graphite deposit being developed by Zenyatta. Light, hard and having a high thermal conductivity, graphite is becoming a prized commodity for its use in electronics, emulsions, high-tech batteries, and to strengthen concrete, plastics, rubber and aluminum.
The two parties first signed an MOU in 2011. The company said this new agreement “reflects the transition of the project from the exploration to the development stage.”
Under the agreement, Zenyatta and Constance Lake have agreed to:
- shared governance, decision-making and support for community engagement for the project;
- shared objectives and expectations for the project; and
- shared economic expectations and benefits for the project.
Dr. Francis Dubé, Zenyatta’s head of business development, said the partners would work collaboratively to create a new partnership arrangement and maximize benefit for both shareholders and the community.
“The graphene market offers exceptional growth potential not only to establish a profitable producing mining business, but, more importantly, to create a new value-added business in the many emerging high-value downstream applications for graphen,” he said in a Sept. 27 release.
Added Constance Lake First Nation Chief Rick Allen: “We see the potential of the Albany Graphite Project to take advantage of the emerging graphene nano-materials market and become a highly profitable business with excellent growth potential.
“We are keen to get involved as a business partner at this early stage and share in the value that his unique resource in our traditional territory will ultimately create.”