The shipment is leaving the site imminently and was sold to 2D Minerals of Singapore, the company confirmed. The buyer will be evaluating the delivery for its own graphene production.

K1 entered commercial production in late December 2019.

"This is the next step in accelerating our production rate to enable us to fulfill the needs of multiple customers," Parashar said.

2D Minerals is a spin-off company from the National University of Singapore.

According to Ceylon Graphite, Sri Lanka graphite is among the purest, has a low cost of production and currently accounts for less than 1% of the world's total graphite production.

It can be upgraded to battery-grade graphite for lithium ion batteries and can be used in the burgeoning market of graphene applications, it added.