Sri Lanka, April 25 -- Vancouver-based Applied Graphite Technology (AGT) Corporation is eyeing a US $ 500 million annual sales revenue by upgrading unprocessed graphite in Sri Lanka to battery-quality graphite, through a processing facility.
The company recently purchased the past-producing Queen's Mine in Sri Lanka. Queen's Mine is located between AGT's two Dodangaslanda graphite properties and it is set to be amalgamated into the Queens Mine Complex.
The company is investing around US $ 650,000 for the exploration programme on the Dodangaslanda Graphite Project, according to the stock filings on the Toronto Stock Exchange. Further, investments are expected to be made into exploration activities in the recently acquired Queen's Mine.
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