MinRes cuts loose Hexagon

LESS than a year after Chris Ellison and Mike Rosenstreich shook hands on the McIntosh flake graphite joint venture, and a week after Hexagon Resources flagged the development would likely be delayed, Mineral Resources has decided to write down its investment and walk away after two years.

MinRes cuts loose Hexagon MinRes cuts loose Hexagon MinRes cuts loose Hexagon MinRes cuts loose Hexagon MinRes cuts loose Hexagon

Graphite is oversupplied.

Rosenstreich told MNN he was disappointed, but said MinRes' decision was not a commentary on the project, but a reflection of the state of the graphite concentrate market.

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