Armadale Capital plc (LON: ACP) has announced the formal confirmation and receipt of the Mining Licence for its 100%-owned Mahenge Liandu Graphite Project in southeast Tanzania from the Tanzanian Ministry of Energy and Minerals.
The Mining Licence ML/007744/2020 provides the company with exclusive development and mining rights over the graphite resources at the Mahenge Liandu Graphite Project.
Armadale Chairman, Nick Johansen, commented: “Receipt of the 10-year Mining Licence for the Mahenge Liandu graphite project is one of the final and most important de-risking milestones for the company and allows us to push forward towards construction of our planned initial Stage 1 60,000 tonnes per annum capacity for the project [and] we are making positive progress in development funding options specifically a debt package for the project, the company is also currently in discussions with a number of potential finance partners; we are hoping to be able to announce some further progress with regards to these efforts and also with our offtake discussions in the near term.”
Tanzania’s largest graphite deposits are located in the central and east southern regions of the country.
Graphite discoveries in Tanzania come mainly from Australia-based graphite developers, Magnis Resources (ASX:MNS), Volt Resources (ASX:VRC) and Kibaran Resources (ASX:KNL).
Active graphite projects in Tanzania include Bunyu, Epanko, Nachu, and Namangale.