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Tanzania Issue License for Mahenge Liandu Graphite Mine

Tanzania Mahenge Liandu graphite project

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.”

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Graphite in Tanzania

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.

RELATED:  Tanzania's Mahenge Graphite Project Gets AUD 10 Million for Preparations
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