Tanzania’s Ministry of Energy and Minerals has granted a mining licence for Kibaran Resources’ Epanko Graphite Project.
Signed by Tanzania’s Energy and Minerals Minister George Simbachawene, the licence represents a major milestone for the company in terms of government permitting for the project, Kibaran said.
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It also supports the company’s reported planned production growth strategy from the existing 40,000tpa to 100,000tpa.
Covering an area of 9.49km², the mining licence is for a period of ten years and will allow for extraction and processing of graphite.
The licence includes all mineralised zones as well as those areas where additional resources are expected to be defined.
Kibaran Resources projects executive director Grant Pierce said: "Granting of the mining licence de-risks the Epanko Graphite project and places Kibaran in a prime position to be both the first graphite producer in Tanzania since Samax’s Graphtan Mine at Merelani commenced production in 1995 and to be one of the first companies into production amongst its listed peer group.
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By GlobalData"Being first into production brings with it some unique, one-off opportunities, which are extremely significant on a number of strategic and commercial fronts and Kibaran has been focusing on its preparedness to take advantage of them over recent months."
The Epanko Graphite project hosts a 100%-owned graphite target, the Epanko Deposit, consisting of a western zone and an eastern zone of mineralisation.
