Kibaran Resources starts key study for Epanko Graphite Project
Kibaran Resources (ASX: KNL) has started an Environmental and Social Impact Assessment
(ESIA) for its Epanko Graphite Project in Tanzania following the signing
of a binding offtake agreement in December 2013.
This is critical for the company to receive its Environmental Certificate from the National Environmental Management Council that is in turn a key prerequisite to obtaining a Mining Licence.
All three are the longest lead time items in the approval and permitting process for developing Epanko. The entire process is expected to take 16 to 18 months.
“We are pleased to have commenced the Environmental Permitting and Mining Licence process as the next stage in developing the Epanko Graphite Project,” executive director Andrew Spinks said.
“This is the first of many positive steps towards project development following the major milestone of a binding offtake agreement for graphite sales.”
Kibaran had on 23 December signed a binding offtake agreement with a sophisticated European graphite trader, which agreed to purchase 10,000 tonnes of flake graphite concentrate per year, over a 5 plus 5 year period.
The potential 10 year contract provides an independent endorsement of the quality and commercial appeal of graphite at the Epanko deposit.
The Epanko deposit within the Mahenge Graphite Project currently has an Inferred JORC Resource of 14.9 million tonnes at 10.5% TGC, for 1.56 million tonnes of contained graphite.
Notably, its hosts highly valued and sought large flake sized carbon of greater than with 73.8% greater than 106µm, 21.6% greater than 300µm, and with a low component of lesser valued fines at 26.2%.
In addition, the resource covers just 20% of the project area, providing strong potential for further growth and underpinning long term development.
The commencement of the key Environmental and Social Impact Assessment marks the beginning of the approval and permitting process to develop Kibaran Resources’ Epanko Project.
With a binding offtake agreement already in place, the stage is set for the project to start producing in 2015.
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