Evolution Energy Minerals (ASX: EV1, FSE: P77) recently announced that it has signed the Framework Agreement and Shareholders Agreement for the Chilalo Graphite Project with the Government of Tanzania.
The Agreements relate to the arrangements for the ownership, development and management of the company’s Chilalo Graphite Project, the details of which were agreed with the Government of Tanzania in March 2023.
Phil Hoskins, Evolution’s Managing Director, commented: “Completion of the Agreements is a key milestone as we continue to progress towards the development of our Chilalo Project. Financiers require certainty on the operation of the Tanzanian Government’s free carried interest and the completion of these Agreements provides the certainty to support further investment from Evolution and debt and equity financiers.”
“Finalising the Agreements has been a collaborative process that has involved extensive negotiation over many months between the Special Presidential Government Negotiating Team and Evolution’s executive group. We thank Her Excellency Samia Suluhu Hassan, the Government of Tanzania, Members of the Special Presidential Government Negotiating Team, the Regional Commissioner of Lindi and the District Commissioner of Ruangwa
for their support.”
“Alignment with the Government on the key principles underpinning the development of Chilalo is critically important. With these Agreements now in place, we look forward to working together with the Government of Tanzania to establish a commercial scale graphite mine that delivers meaningful benefits to all stakeholders.“