PERTH (miningweekly.com) – ASX-listed junior Black Rock Mining has received environmental approval for its Mahenge graphite project, in Tanzania.
The environmental approval covers mining at the three ore bodies that comprise the broader Mahenge project, and is valid for the whole life cycle of the mine.
“We are delighted to have received our environmental approvals within the timeline we have been working towards. The award of the environmental permit demonstrates that Tanzania is adjusting to the new mining code and the licensing approval processes are now working,” said Black Rock CEO John de Vries.
“We continue to deliver upon our key milestones and remain confident of delivering a compelling definitive feasibility study (DFS) for our Mahenge graphite project over the coming weeks. The DFS is expected to continue to demonstrate we have the strongest development stage global graphite project,” De Vries said.
The DFS is scheduled for completion by the end of September, and the results would be released to market in October.
The DFS will build on the positive prefeasibility study, which estimated a 250 000 t/y operation over a 31-year mine life. The project is expected to cost some $90.1-million to develop, and will have a net present value of $905-million and an internal rate of return of 45.1%.