Tanzania: Graphex secures lease for Chilalo graphite project
Monday, 14 November 2016 18:40
Junior Graphex Mining has got a mining lease over its Chilalo graphite project in Tanzania.
“Securing the mining licence is a significant step towards our objective of commencing project development and commercial production at Chilalo. It confirms Chilao’s position as one of the most advanced graphite projects of any company listed on the ASX,” said MD Phil Hoskins.
Mr. Hoskins added that there was progress in talks with partners to finance the project’s development. According to him, getting the lease, in addition to due diligence for the project, will help advance these negotiations.
The Chilalo project, situated in the Nachingwea property, should, based on a pre-feasibility study, produce 69,000t of graphite each year over 10 years (the mine’s lifespan), for a $74 million investment.
Louis-Nino Kansoun
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