Name of the Project
Bunyu (formerly Namangale) graphite project.

Location
The project is located in south-east Tanzania.

Client
Volt Graphite Tanzania, a subsidiary of Volt Resources.

Project Description
The Bunyu project has total mineral resources of 461-million tonnes grading 4.9% total graphitic carbon (TGC).

Total proven and probable reserves are estimated at 127.4-million tonnes grading 4.36% total graphitic carbon.

The strategy for the project has been amended.

A previously completed prefeasibility study (PFS) considered a number of production scenarios, ranging from 60 000 t/y to 240 000 t/y of graphite concentrate over a 20-year mine life.

The revised strategy is to develop Bunyu in two stages.

Stage 1 will now focus on the potential development of a 10 000 t/y to 20 000 t/y graphite mine and processing facility, with products expected to be exported to the US, China and other markets.

Stage 2 expansion will be based on market demand.

The mine is expected to have a throughput of 3.8-million tonnes a year of ore at 4.7% TGC resulting in annualised production of 170 000 t/y of graphite concentrate.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The PFS demonstrated a pretax net present value, at a 10% discount rate, of $1.31-billion and an internal rate of return of 86.9%, with a payback of 1.4 years from first ore to process plant.

Value
The PFS estimated capital expenditure at $173-million.

Duration
Not stated.

Latest Developments
Volt Resources has lodged its mining licence applications for the Bunyu graphite project.

The applications cover the Stage 1 development and the Stage 2 expansion; the latter is targeted for completion by late 2020.

The mining licences have been lodged together, as the footprint of Stage 1 also accommodates the Stage 2 development. Both stages will use the same mine infrastructure.

The company has previously submitted its environmental- and social-impact statement, which the National Environment Management Council has to approve.

Volt recently partnered with Exotix Capital on a $40-million bond issue for project funding for Bunyu.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Volt Resources, tel +61 8 9486 or email info@voltresources.com.