PERTH (miningweekly.com) – Graphite developer Black Rock Mining has been granted two contiguous mining licences for the development of its Mahenge project, in Tanzania.
“This milestone is a significant step in delivering the Mahenge graphite mine. Licensing gives all stakeholders comfort that Tanzania wants this project to be developed. Securing the mining licence is the final step in allowing us to obtain financing to construct the mine,” said Black Rock CEO John de Vries.
The mining licences complemented the environmental permit, which was awarded in September last year.
Subject to the completion of detailed engineering and financing, Black Rock could now start the development of the $115-million Phase 1 project, which would deliver 83 000 t/y of graphite concentrate.
For a further $69.5-million, the Phase 2 project would increase production by 83 000 t/y, with the Phase 3 project requiring a capital investment of $84.2-million to add an additional 83 000 t/y. Over the 32-year mine life, Mahenge is expected to reach an average steady-state production of 250 000 t/y.
“We remain convinced this is the most compelling graphite development project globally. We have best in class financial metrics supported by a 90 t pilot plant delivering 8 t of product to over 20 global customers,” said De Vries.
He said that Mahenge was the only project capable of delivering a concentrate grade of over 99% without the use of acid, and binding offtakes for up to 205 000 t/y by its third year of operation.