Volt Resources has been granted two mining licences covering the Stage 1 and Stage 2 developments of its Bunyu graphite project, in Tanzania.
The Stage 1 development is based on a mining and processing plant throughput rate of 40 000 t/y of ore to produce on average 23 700 t/y of graphite products. The main objective of this development is to establish infrastructure and market position in support of a significantly larger expansion at a later stage.
Volt said on Thursday that the mining licences had been granted subject to three conditions, including an acceptance of the boundaries and coordinates of the amended application, the company accepting the proposed licence, and the payment of $1 000 in preparation fees for each licence.
“This is a key milestone for Volt and our shareholders, as we have now effectively received all required primary development approvals in relation to our planned Stage 1 and Stage 2 development at the Bunyu graphite project,” said Volt chairperson Asimwe Kabunga.
Kabunga said that Volt’s near-term focus will remain on the successful completion of the proposed $40-million note issue for the Bunyu development.
Following the completion of the note issue, and board approval, Volt would proceed with the front-end engineering and design work for the initial Stage 1 operations, and the ordering of the long-lead time components.source: miningweekly.com