JOHANNESBURG (miningweekly.com) – Tanzania-focused flake graphite development company Volt Resources has lodged its mining licence applications for the Bunyu graphite project.
The applications cover both the Stage 1 development, where an estimated 400 000 t/y of ore will be processed producing a nominal 20 000 t/y of graphite products, and the Stage 2 expansion, which will be based on the prefeasibility study metrics of 3.8-million tonnes a year of ore to produce 170 000 t/y of graphite product.
The Stage 2 expansion is targeted for completion by late 2020.
Volt explained on Thursday that the mining licences for both stages were lodged together, as the footprint of Stage 1 also accommodated the Stage 2 development. Both stages would 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.
The Bunyu project hosts Tanzania’s largest graphite deposit, with a Joint Ore Reserve Committee-compliant resource of 461-million tonnes at 4.9% total graphitic content, for 22.6-million tonnes of contained graphite.