PERTH (miningweekly.com) – A high level study into ASX-listed IMX Resource’s Chilalo graphite project, in Tanzania, has confirmed that the project meets the criteria for a successful operation.
“The high level study confirms the Chilalo graphite project presents a near-term development opportunity and supports our decision to start a prefeasibility study focused on a smaller-scale operation in the order of between 25 000 t/y and 50 000 t/y graphite concentrate,” said IMX CEO Phil Hoskins.
The project is estimated to host an inferred mineral resource of some 7.4-million tonnes, grading 10.7% graphitic carbon, for 792 000 t of contained graphite.
The study concluded that the project had access to important existing infrastructure, including a commercial deep-water port, water supply and access to a regional power grid.
"The positive study outcome, coupled with the recent memorandum of understanding (MoU) with China-Base Ningbo, has laid the foundations for a successful graphite project in Chilalo,” said Hoskins.
He added that with funding flowing from the Fig Tree joint venture, as well as the recently concluded capital raising, IMX was in a strong position to rapidly advance the project.
The April MoU would allow the two companies to execute a binding offtake agreement for at least 25 000 t/y, over a five-year period, once the feasibility work on the Chilalo project had been completed.