Tanzania – The bulk sample programme forms part of the MoU signed between Magnis Resources and ROSATOM in January for the project financing of its Nachu graphite project and offtake of its jumbo flake graphite.
The signing of the MoU earlier this year was a significant development for Magnis Resources as it positions the company alongside a highly-regarded group and world leader in the construction and operating of nuclear reactors. Larger flake graphite, which the Nachu project will produce, is a key material used in nuclear reactors is highly sought-after, which makes Nachu strategically important to ROSATOM over the longer term.
Funded by Uranium One (U1), a wholly owned subsidiary of ROSATOM, the programme is expected to require approximately 18 t of ore and aims to produce Super Jumbo, Jumbo and battery feedstock from this.
The ore will be extracted from drill sample to give a full representation of the ore body and minimise any risk from localised variability. Most of the drill sample is already available with concentrate to be produced in Australia and sent to U1 for testing.
“The initial graphite samples provided to us by Magnis were unlike anything we have seen in the past. We are interested to complete the bulk sampling programme and move into a binding agreement,” says U1 director Vladimir Hlavinka.
Magnis Resources chairman Frank Poullas said he looks forward to progressing the company’s current relationship with U1 towards a binding offtake.