ASX-listed Tanzanian graphite developer Black Rock Mining has announced that its 100%-owned Tanzanian subsidiary Mahenge Resources has been granted a mining licence by the Mining Commission of the Tanzanian Ministry of Minerals.
This consists of two contiguous mining licences, ML 00668/2018 and ML 00669/2018, over the Mahenge Graphite Mine development area.
The Mining Licences compliment the Environmental Permit that was awarded on 5 September 2018.
Commenting on the significance of the granting of Mining Licences, Black Rock Mining CEO, John de Vries, says:
“This milestone is a significant step in delivering the Mahenge Graphite Mine. Licencing gives all stakeholders comfort that Tanzania wants this project to be developed. Securing the Mining Licences is the final step in allowing us to obtain financing to construct the Mine.
We remain convinced this is the most compelling graphite development project globally. We have best in class financial metrics supported by a 90 tonne pilot plant delivering eight tonnes of product to over 20 global customers, the only project capable of delivering a concentrate grade of over 99% without the use of acid, the second largest graphite reserve supporting a 32 year mine life at 250 k tonnes per annum with a study underway to increase this, best in class logistics supported by rail to the largest port in the region, and binding offtakes for up to 205k tonnes per annum in our third year of operation.
Our next steps are to close out ongoing financing discussions and to complete the detailed engineering to enable the commencement of construction.”
Black Rock Mining is an Australian based company listed on the Australian Securities Exchange. The company has a 100% interest in the Mahenge graphite project located in Tanzania.
The project has a JORC compliant Mineral Resource Estimate of 212 m tonnes at 7.8% TGC.
It also has reserves of 70 Mt at 8.5% TGC.
The reserve supports a mine life of 250k tonnes of graphite per annum for
Since the release of the Resource Estimate, the Company confirms that it is not aware of any new information or data that materially affects the resources estimate.