Epanko Graphite Project Closer to Framework Agreement

Grafite-focused company EcoGraf (ASX: EGR; FSE: FMK; OTCQX: ECGFF) has recently received a site visit by the Tanzanian Special Presidential Government Negotiating Team as part of the process to finalise the Framework Agreement for the development and operation of the Epanko Graphite Project.

The site visit follows the registration of Duma TanzGraphite as the new Tanzanian mining company that will develop and operate the Epanko Project.

The site visit assists the Special Presidential Government Negotiating Team in completing the approval processes to enable the signing of the Framework Agreement.

About EcoGraf & Epanko

EcoGraf is building a vertically integrated battery anode materials business to produce high-purity graphite products for the lithium-ion battery and advanced manufacturing markets.

Anode (or negative electrode) used in Lithium-ion batteries is typically made up of graphite, coated on copper foil.

In Tanzania, EcoGraf is developing high-quality natural flake graphite Epanko and Merelani-Arusha projects.

Using its FIFfree’Y purification technology, the company will upgrade the flake graphite to produce 99.95%C high-performance battery anode material to supply electric vehicles, battery and anode manufacturers in Asia, Europe and North America.

In 2020, Tanzania’s estimated graphite reserves were at 17 million tonnes, ranking 6th in the world after Turkey (90 million tonnes), China (73 million tonnes), Brazil (70 million tonnes), Madagascar (26 million tonnes), and Mozambique (25 million tonnes).

According to EcoGraf, the demand for natural graphite, led by the global lithium-ion battery market, is forecast to increase at 31.5% per annum in the current decade.