GLOBAL BATTERY MATERIALS ANNOUNCES POSITIVE PRELIMINARY ECONOMIC ASSESSMENT FOR THE KEARNEY GRAPHITE PROJECT
Brownfield graphite mine redevelopment demonstrates an after-tax IRR of 67%, and payback period of 1.3 years
TORONTO, July 7, 2026 /PRNewswire/ — Global Battery Materials Corp. (“GBM” or the “Company“), a vertically integrated critical minerals and technology company focused on developing secure North American graphite and advanced anode material supply chains, is pleased to announce the positive results of a Preliminary Economic Assessment (“PEA“) prepared by WSP Canada Inc. (“WSP“) for its Kearney Graphite Project (“Kearney” or the “Project“), located in northeastern Ontario, Canada. The PEA evaluates the restart of the prior-producing Kearney Mine, leveraging existing infrastructure to provide a secure source of graphite for the North American battery supply chain.
The PEA prepared by WSP and independent Qualified Persons (“QP’s“) confirms the strong economics for the Kearney Graphite Project, with a post-tax NPV(8%) of USD$183 million, 67% internal rate of return (“IRR“), and 1.3-year payback. The brownfield redevelopment project benefits from several characteristics, including existing historical infrastructure, transportation access, and previously disturbed industrial footprint, which collectively contribute to a comparatively reduced capital intensity, and accelerated development potential.
The PEA economics are built on the sale of graphite concentrate, industrial graphite products, and upstream battery materials—established product categories with strong and growing demand across North American industrial, defence, energy storage, and battery supply chain markets.
QUALIFIED PERSONS
The scientific and technical information contained in this news release has been reviewed and approved by the following Qualified Persons as defined under NI 43-101, each of whom is independent of Global Battery Materials Corp.:
- Benjamin Berson, P.Eng., PMP, Principal Mining Engineer, WSP — mining, and infrastructure
- Brian Thomas, P.Geo., Senior Principal Geologist, WSP — Mineral Resource Estimate
- Amir Maleki Ghahfarokhi, P.Geo., Senior Geologist, WSP — geology, exploration, and data verification
- Kerry Salvatori Lee, P.Eng., Senior Principal Geotechnical Engineer, WSP — tailings management
- Oliver Peters, P.Eng., M.Sc., MBA, President, Metpro Management Inc. — metallurgical processing
- William (Bill) Stiebel, M.Sc., P.Geo., FGC, President, WHS Plc. — environmental and water management
- Piers Wendlandt, PE, Vice President, Mining Engineer, WSP — economic analysis and macroeconomic aspects.
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GLOBAL BATTERY MATERIALS ANNOUNCES POSITIVE PRELIMINARY ECONOMIC ASSESSMENT FOR THE KEARNEY GRAPHITE PROJECT, source
