PERTH (miningweekly.com) – The share price of ASX-listed Volt Resources rose by nearly 11% on Tuesday after the company received environmental approval for its Bunyu graphite project, in Tanzania.
The company told shareholders that the environmental impact assessment certificate was the final prerequisite for the granting of a mining licence, and one of the final remaining major milestones in terms of government permitting for the Bunyu project.
“This is a significant milestone in the development of our Bunyu project, as it transitions the company a step closer to receiving the all-important Bunyu mining licences,” said Volt chairperson Asimwe Kabunga.
“Looking ahead, we remain firmly focused on advancing the Bunyu project towards Stage 1 production, and we look forward to providing our shareholders with further updates on funding and development progress in the near-term.”
A recent feasibility into the Stage 1 project, based on a mining and processing plant with a throughput rate of 400 000 t/y of ore, to produce an average 23 700 t/y of graphite products, is expected to require a capital investment of $31.8-million.
Volt shares were trading at a high of 2.2c a share on Tuesday, up from an opening price of 2.1c a share.