According to the company board, the reopening of El Tejon mine will require $2.5m and will help the company take advantage ofexpanding graphite market.
The El Tejon property is spread across 500 hectare, and is adjacent to the town of San Francisco Telixtlahuaca.
Operations at the mine began in 1988 but it was shuttered in 2002, due to low graphite prices.
According to BIG NORTH, El Tejon is the only Mexican flake graphite mine, that was capable of producing a premium quality product from a dual processing line.
The company highlighted that a second processing line will be re-started in an orderly manner in line with initial operating experience, and it is also likely to recruit those who previously worked in the mine.
Big North said: "The Company’s Board of Directors and Management will vigorously pursue all options for financing and re-starting the El Tejon project in order to achieve the best outcome for its shareholders and will announce developments as they move the project forward."
