{australien_flagge}It is expected that next Monday, April 17, 2023, the management of EcoGraf Limited (ASX: EGR; FRA: FMK; OTCQX: ECGFF) and representatives of the Tanzanian government will sign a framework agreement for the development and operation of the Epanko graphite project. The date has been communicated by the Tanzanian government, Ecograf says in a recent announcement. The company calls the contract a “significant milestone for the project.” Epanko, it says, is a world-class graphite project that is expected to make a generational contribution to the Tanzanian economy. A presidential negotiating team was on site at Epanko just recently.
{australien_flagge}It is expected that next Monday, April 17, 2023, the management of EcoGraf Limited (ASX: EGR; FRA: FMK; OTCQX: ECGFF) and representatives of the Tanzanian government will sign a framework agreement for the development and operation of the Epanko graphite project. The date has been communicated by the Tanzanian government, Ecograf says in a recent announcement. The company calls the contract a “significant milestone for the project.” Epanko, it says, is a world-class graphite project that is expected to make a generational contribution to the Tanzanian economy. A presidential negotiating team was on site at Epanko just recently.
The signing of the agreement fits with a series of new EU and U.S. policy initiatives and legislation to develop new supply chains to support the clean energy transition. More recently, Vice President Kamala Harris visited Tanzania to deepen strategic ties with the Tanzanian government and highlight the country’s importance as an emerging key supplier of important minerals for EV batteries.
The Korean government also announced legislation requiring that 50% of critical minerals and battery minerals be sourced outside of China. More recently, Japan had signed a trade agreement to strengthen Japan’s battery supply chains with member countries of the Mineral Security Partnership (which includes Australia).
Conclusion: Under its new president, Samia Suluhu Hassan, Tanzania is rapidly opening up economically. This is all the easier because the country is currently being courted by many sides. China, for example, wants to buy into the port infrastructure, but the USA and the EU have also recognized the country’s strategic importance. Thanks to an American financing commitment, the country is planning the first nickel refinery on African soil – a symbol of Tanzania’s new self-confidence, which is striving for recognizable development and wants to be more than the world’s raw materials bank. The Epanko graphite project fits perfectly into this narrative. Although there have been two successful feasibility studies in the past decade, meeting the strictest environmental and social standards, the Epanko project had failed to move forward for political reasons. It lacked precisely that framework agreement with the Tanzanian government that is now (finally) being signed. The signs for the realization of the world-class Epanko project have probably never been better than today.
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