PERTH (miningweekly.com) – Graphite developer Kibaran Resources has been assured by the Tanzanian government that the mining licence for its Epanko graphite project would be renewed for an additional ten years, upon its expiry.
The renewal would be conditional upon Kibaran meeting the requirements of the country’s Mining Act.
Kibaran on Wednesday said that the guarantee letter from the Tanzanian government was a major requirement of the project lenders.
The original mining licence was signed in July 2015, and was at the time the major remaining milestone for the project. Kibaran has been working to progress the project towards development.
A bankable feasibility study estimated that the Epanko project would require a capital investment of $88.9-million, to produce 60 000 t/y of graphite over a mine life of 18 years.