White House fact sheet mentions EcoGraf
The strategic importance of EcoGraf Limited’s (ASX: EGR; FSE: FMK; OTCQB: ECGFF) Epanko Graphite Project in Tanzania is increasingly being recognised internationally. According to Ecograf, the project is specifically mentioned in a recent joint Minerals Security Partnership (MSP) statement issued by the US State Department. This statement followed the meeting of MSP directors in Toronto during the recent annual meeting of the Prospectors and Developers Association of Canada (PDAC), one of the largest mining events in the world. EcoGraf had already been mentioned in the fact sheet entitled “Delivering on the Next Generation of Innovation and Partnership with Australia” during Australian Prime Minister Albanese’s official visit to US President Biden at the White House on 25 October 2023.
The Minerals Security Partnership (MSP) aims to accelerate the development of diverse and sustainable supply chains for critical energy minerals by working with host governments and industry to facilitate targeted financial and diplomatic support for strategic projects along the value chain. MSP partners include Australia, Canada, Finland, France, Germany, India, Italy, Japan, Norway, the Republic of Korea, Sweden, the United Kingdom, the United States and the European Union (represented by the European Commission).
In a press release, the U.S. State Department specifically recognised EcoGraf for arranging a senior credit facility of up to US$105 million with Germany-based KfW IPEX-Bank for the development of Phase 1 of the company’s Epanko Graphite Project in Tanzania.
The press release can be found at: https://www.state.gov/joint-statement-of-the-minerals-security-partnership/
Conclusion: Securing the supply chains of critical raw materials is finally being recognised as a political priority. Ecograf fits perfectly into this strategy because the company can map the entire value chain from mining to refining and recycling like no other graphite company. However, the example of Ecograf also shows how arduous the path actually is. Ecograf has submitted two feasibility studies in recent years and, after a long wait, is now expecting the Tanzanian government to grant an extended 50-year mining licence. This licence would pave the way for co-financing by KfW IPEX Bank. This is another special feature of Epanko: it is the only graphite project in Africa that fulfils the strict social and environmental requirements of the so-called Equator Principles. This is the very reason why KfW can invest in it at all.
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