EBRD increases stake in Sarytogan Graphite Limited

• EBRD increases stake in Sarytogan Graphite Limited to 18.4 per cent
• Proceeds will finance definitive feasibility study and project-related development
• Project supports exploration, development and production of critical raw materials

The European Bank for Reconstruction and Development (EBRD) is continuing to support the exploration, development, production and processing of critical raw materials (CRM) in Kazakhstan by making a follow-on equity investment of AUD 1.4 million in Sarytogan Graphite Limited, an Australian Securities Exchange-listed company developing one of the world’s largest known high-grade graphite deposits.

The investment will increase the EBRD’s stake to 18.4 per cent, maintaining its position as a significant minority shareholder.

Sarytogan will use the proceeds to complete an upstream definitive feasibility study and to finance project-related development activities, such as environmental work and product marketing.

Graphite is recognised as a CRM mineral and has a wide range of uses, including in electric vehicle batteries, the electric power industry and metallurgy.

The EBRD has invested almost US$ 12.6 billion (€10.8 billion) in Kazakhstan through 352 projects, making the country the largest and longest‑running recipient of EBRD investment in Central Asia.