PERTH (miningweekly.com) – The Tanzanian government has given its in-principle approval for ASX-listed Kibaran Resources’ debt financing arrangements for its Epanko graphite project.
Kibaran in April this year mandated Germany’s KfW IPEX-Bank to provide debt funding to develop the Epanko project.
The company on Thursday said the approval from the government would enable KfW to progress the untied loan guarantee (UFK) submission for the German government inter-Ministerial committee, and that processes for arranging financing and related UFK cover applications have started.
This process could take several months to complete.
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.