Mahenge receives two licences for Mahenge Graphite Mine

26 February 2019 (Last Updated February 26th, 2019 12:30)

Mahenge Resources, the 100% owned Tanzanian subsidiary of Black Rock Mining, has obtained two contiguous mining licences, ML 00668/2018 and ML 00669/2018, for the development of its Mahenge Graphite Mine.

Mahenge Resources, the 100% owned Tanzanian subsidiary of Black Rock Mining, has obtained two contiguous mining licences, ML 00668/2018 and ML 00669/2018, for the development of its Mahenge Graphite Mine.

Together, the two mining licences cover an area of 19.68km², including the entire Mahenge Graphite Mine. They have a term of ten years before they must be renewed.

The licences also include the Epanko area and intermediate areas that are considered to have the potential for extensional mineralisation.

The mining licences granted by the Mining Commission of the Tanzanian Ministry of Minerals compliment the environmental permit obtained by the company on 5 September last year.

Subject to the completion of detailed engineering and financing, Black Rock Mining will now start construction on the Mahenge Graphite Mine.

Black Rock Mining CEO John de Vries said “Licencing gives all stakeholders comfort that Tanzania wants this project to be developed. Securing the mining licences is the final step in allowing us to obtain financing to construct the mine.

“Securing the mining licences is the final step in allowing us to obtain financing to construct the mine.”

“We have best in class financial metrics supported by a 90t pilot plant delivering eight tonnes of product to over 20 global customers, the only project capable of delivering a concentrate grade of over 99% without the use of acid, the second largest graphite reserve supporting a 32 year mine life at 250k tonnes per annum with a study underway to increase this, best in class logistics supported by rail to the largest port in the region, and binding offtakes for up to 205k tonnes per annum in our third year of operation.”

The company plans to conclude ongoing financing discussions and complete the detailed engineering so as to start construction of the project.

The Mahenge project is spread across 324km² of exploration tenements in Ulanga district, around 250km north of the border with Mozambique.