Carried out at the Wuhan University of Technology, the test confirmed that the graphite exceeds the grades required for use in lithium ion battery anodes, the company said.

Using an acid leaching process, the samples returned 99.66% TGC and 99.96% TGC using acid roasting techniques.

MRL expects average grade of vein graphite to be more than 95% TGC.

"Typical high-grade Sri Lankan graphite achieves a greater recovery rate than most disseminated flake graphite deposits due to its reduced physical processing requirement and much higher starting TGC purity," the company said.

The Aluketiya project is located in Meegahatenna within the Walallawita District, which is said to be one of the richest graphite-bearing regions in Sri Lanka.