{australien_flagge}EcoGraf Limited (ASX: EGR; Frankfurt: FMK; OTCQX: ECGFF) has reached agreement with a special negotiating team from the Presidential Government in Tanzania on the text of a framework agreement for the development and operation of the Epanko graphite project. The government of Tanzania is currently finalizing its permitting procedures to enable the signing of the framework agreement, the company announced today. The signing of the agreement is expected early next year, it said, and is an important prerequisite for the financing and development of the project.
{australien_flagge}EcoGraf Limited (ASX: EGR; Frankfurt: FMK; OTCQX: ECGFF) has reached agreement with a special negotiating team from the Presidential Government in Tanzania on the text of a framework agreement for the development and operation of the Epanko graphite project. The government of Tanzania is currently finalizing its permitting procedures to enable the signing of the framework agreement, the company announced today. The signing of the agreement is expected early next year, it said, and is an important prerequisite for the financing and development of the project.
Extensive studies have been conducted in advance to define Epanko’s development opportunities and mitigate risk. These include a bankable feasibility study led by GR Engineering Services; the mining concession and environmental permits; a comprehensive independent engineering report by SRK Consulting on behalf of the lenders confirming the technical aspects of the proposed development and the compliance of the social and environmental design with the Equator Principles, International Finance Corporation performance standards and World Bank Group environmental, health and safety guidelines; and 200-tonne bulk test program and sales of flake graphite to key markets in Europe and Asia.
Detailed evaluations conducted over the past eight years show that the unique geology of Tanzanian graphite delivers a superior battery anode material product that outperforms other global reference materials in mechanical shaping, purification and electrochemical benchmarking analyses.
Epanko, he said, offers a long-term, expandable source of high-quality natural graphite to supply industrial markets worldwide and provide feedstock for the company’s integrated battery anode materials business.
In recent months, GR Engineering Services has completed an updated estimate of Epanko’s capital and operating costs. The results of this estimate are expected to be presented in the first quarter of next year.
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