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Epanko Graphite Project Completes Processing Plant Design and Secures Key Debt Financing

August 21, 2024
2 minute read
Epanko Graphite Project Tanzania

EcoGraf Limited has announced two significant advancements for the Epanko Graphite Project in Tanzania: the completion of the graphite processing plant layout design and a positive update on debt financing.

Epanko Graphite Processing Plant Layout Design Completed

The design for the Epanko Graphite Processing Plant, which will process 73,000 tons per annum, has been finalized. The layout was completed by METC Engineering and Construction, a South African firm, in collaboration with their Tanzanian partner, METC-PaulSam JV.

This plant design meets the highest engineering standards, ensuring high processing recoveries and concentrate grades. The final design follows due diligence site visits by stakeholders, including KfW IPEX-Bank and Euler Hermes, and is complemented by a 3D fly-over video that provides a detailed overview of the processing plant.

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Additionally, pre-development infrastructure drilling has commenced at the Epanko site. This includes a geotechnical drilling program aimed at finalizing parameters for the plant, Tailings Storage Facility (TSF), and Water Storage Facility (WSF).

The program consists of 22 holes for 450 meters of drilling and 67 geotechnical test pits, ensuring compliance with the Global Industry Standard on Tailings Management (GISTM).

Epanko Debt Financing Update

In a related financial development, a positive preliminary review has been received from the German Government Inter-Ministerial Committee (IMC) regarding a proposed loan of up to US$105 million for the development of the Epanko Graphite Project.

The IMC has provided nonbinding confirmation that the project is eligible for cover under the Untied Loan Guarantee Scheme (UFK) from the Federal Republic of Germany, pending an expert opinion and further approval processes.

EcoGraf ‘s Managing Director Andrew Spinks commented, “The positive outcome of the Preliminary Review is a key milestone in our Epanko financing program and our team is focused on completing the remaining Project planning activities to support the submission for Preliminary Approval for UFK cover, positioning our world-class Epanko Graphite Project for development.”

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The UFK program aims to provide a long-term supply of critical minerals for German industry and requires adherence to high environmental and social standards, in line with the Equator Principles and International Finance Corporation Performance Standards.

EcoGraf has engaged KfW IPEX-Bank to provide advisory services to secure this financing, which will support the construction of the Epanko project.

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