PERTH (miningweekly.com) – Junior Graphex Mining has been granted a mining lease over its Chilalo graphite project, in Tanzania.
The company said on Monday that the granting of the mining licence was a key approval required for the development of the Chilalo project, and satisfied an important requirement in the offtake and financing negotiations.
“Securing the mining licence is a significant step towards our objective of commencing project development and commercial production at Chilalo. It further de-risks the project and confirms Chilalo’s position as one of the most advanced graphite projects of any company listed on the ASX,” said MD Phil Hoskins.
He noted that the company continued to make progress with project partners regarding offtake and finance for the development of Chilalo and the receipt of the mining licence, combined with the expected near-term conclusion of their technical due diligence, which will allow the negotiations to move forward.
The prefeasibility study on the Chilalo project estimated that a capital injection of $74-million would be required to support an average yearly production of 69 000 t of graphite concentrate, over a ten-year mine life.
Edited by: Creamer Media Reporter
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