The hardness of synthetic diamonds also makes them ideal for cutting highly specific optical lenses, electronic components and semiconductor polishing.

Beyond mechanical applications, the stones have a high tolerance for managing heat generated by high-powered devices such as lasers and transistors.

Sarytogan Graphite managing director Sean Gregory said: “Sarytogan Graphite has again demonstrated remarkable performance to open another high-value market. Sarytogan’s development strategy is to place as many units of carbon into as many markets as possible.”

The company’s Karaganda-based project in Central Kazakhstan, 300km southeast of the capital of Astana, is host to a massive mineral resource of 229 million tonnes at a serious 28.9 per cent total graphitic carbon.

A recent prefeasibility study found the project could deliver a US$518 (A$787 million) net present value for the company by employing a phased development approach, beginning with a modest initial capex of US$62 million (A$95.5 million) to produce 50,000 tonnes of spheroidised graphite per annum for use in lithium-ion battery anodes.

To produce a UHPF product suitable for industrial diamond manufacture, Sarytogan will need to incorporate an additional development stage by building a thermal reactor to purify the graphite before - rather than after - spheroidisation.

Sarytogan is trialling a 20t sample recently taken from its deposit for milling tests and product sampling.

One tonne has been sent to Australia for flotation concentrate tests, while additional material has been sent to the United States for purification.

The company then expects to have several hundred kilograms of beneficiated graphite and UHPF to offer to potential customers to put through their various qualification programs.

Given the huge market for beneficiated and purified graphite, ranging from industrial diamonds used in multiple everyday industries to the manufacture of anodes for lithium-ion batteries, Saytogan appears to have the major markets covered well with its basket of graphite products expected to be produced out of Kazakhstan.

The substantial size of the deposit, coupled with its strategic proximity to major markets and very high grade, should increasingly position the project as one of globally significance.

The project was recently mentioned as a case study of note during a briefing by the European Bank for Reconstruction and Development at the inaugural opening of the United Nations’ Minerals Security Partnership Finance Network, further showcasing its global importance.

Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au