Australian graphite company, Bora Bora Resources (ASX: BBR) agreed to acquire up to 50% in Sri-Lanka's RS Mines limited. RS has a graphite mine in Sri Lanka that is currently producing graphite. RSM also developed a process to produce graphene-oxide from this graphite.
RSM is supplying graphene oxide to several companies and institutions - mostly for testing of its own material. The company is the sole supplier of graphite to Norway's Graphene Batteries.
Earlier this month Bora Bora signed an agreement to exclusively supply Monash University with graphite from its Matale Graphite project in Sri Lanka. The same agreement also gives Bora Bora the exclusive right to develop a commercialization plan with Monash University for each of the three patents developed by Prof Dan Li and his team at the University.